Intraday bias in USD/CAD remains on the upside for retesting 1.4298 high. Decisive break there will resume the rally from 1.3480. Next target is 100% projection of 1.3730 to 1.4298 from 1.3928 at 1.4496. On the downside, below 1.4174 minor support will turn bias neutral first.
In the bigger picture, current development argues that rise from 1.3480 might still be in progress. Decisive break of 61.8% retracement of 1.4791 (2025 high) to 1.3480 at 1.4290 will bring stronger rally to retest 1.4791. However, break of 1.3928 will argue that the rise has completed, and turn near term outlook bearish.
