Daily Pivots: (S1) 1.4356; (P) 1.4402; (R1) 1.4483; More…
Intraday bias in USD/CAD remains on the upside for the moment. Corrective pullback from 1.4791 should have completed at 1.4150 already. Further rise should be seen to retest 1.4791. Firm break there will resume larger up trend. ON the downside, below 1.4298 minor support will turn intraday bias neutral and bring consolidations before staging another rally.
In the bigger picture, long term up trend is tentatively seen as resuming with prior breach of 1.4667/89 key resistance zone (2020/2015 highs). Next target is 100% projection of 1.2401 to 1.3976 from 1.3418 at 1.4993. This will remain the favored case as long as 1.3976 resistance turned support holds (2022 high), even in case of deep pullback.
