Daily Pivots: (S1) 1.4300; (P) 1.4300; (R1) 1.4419; More…
USD/CAD’s firm break of 55 4H EMA (now at 1.4362) suggests that rebound from 1.4150 has completed at 1.4541 already. Fall from there is seen as the third leg of the corrective pattern from 1.4791. Intraday bias is back on the downside for 1.4150 support first. On the upside, though, above 1.4541 will resume the rebound from 1.4150 to retest 1.4791 high.
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.
 suggests that rebound from 1.4150 has completed at 1.4541 already. Fall from there is seen as the third leg of the corrective pattern from 1.4791. Intraday bias is back on the downside for 1.4150 support first. On the upside, though, above 1.4541 will resume the rebound from 1.4150 to retest 1.4791 high.){kind=link}