Intraday bias in USD/CAD is turned neutral with current retreat. Further rise is mildly in favor as long as 1.3682 support holds. Rebound from 1.3549 is seen as the third leg of the corrective pattern from 1.3480. Above 1.3777 will target 1.3965 resistance. Nevertheless, break of 1.3682 will turn bias back to the downside for 1.3549 support instead.
In the bigger picture, price actions from 1.4791 are seen as a corrective pattern to the whole up trend from 1.2005 (2021 low). Deeper fall could be seen, as the pattern extends, to 61.8% retracement of 1.2005 to 1.4791 at 1.3069. However, decisive break of 38.2% retracement of 1.4791 to 1.3480 at 1.3981 will argue that the correction has completed with three waves down to 1.3480 already.
