. However, firm break of 1.3898 will bring retest of 1.3749 low instead.){kind=link}
Daily Pivots: (S1) 1.3937; (P) 1.3967; (R1) 1.3998; More…
Intraday bias in USD/CAD remains neutral and further rise is expected with 1.3898 support intact. Above 1.4014 will resume the rebound from 1.3749 short term bottom to 1.4150 cluster resistance (38.2% retracement of 1.4791 to 1.3749 at 1.4147). However, firm break of 1.3898 will bring retest of 1.3749 low instead.
In the bigger picture, price actions from 1.4791 medium term top could either be a correction to rise from 1.2005 (2021 low), or trend reversal. In either case, further decline is expected as long as 1.4150 resistance turned support holds. Firm break of 38.2% retracement of 1.2005 (2021 low) to 1.4791 at 1.3727 will pave the way back to 61.8% retracement at 1.3069.
