Daily Pivots: (S1) 1.4370; (P) 1.4422; (R1) 1.4490; More…
Intraday bias in USD/CAD remains neutral and outlook is unchanged. Overall, corrective pattern from 1.4791 should still be extending. Break of 1.3248 will target 1.4150 support and possibly below. Meanwhile, break of 1.4541 will bring stronger rise back to retest 1.4791.
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.
