Intraday bias in USD/CAD is turned neutral first with current retreat. Further rise is expected as long as 1.3729 support holds. Rise from 1.3549 is seen and the third leg of the pattern from 1.3480. Above 1.3868 will target 1.3965 resistance. On the downside. Break of 1.3729 will suggest that the rebound has completed, and turn bias back to the downside.
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.
