Daily Pivots: (S1) 1.3432; (P) 1.3464; (R1) 1.3485; More….
USD/CAD retreated after hitting 1.3536 and intraday bias is turned neutral first. Outlook is unchanged that corrective pattern from should have completed at 1.3261. Above 1.3536 will turn bias to the upside for 1.3684 resistance. Nevertheless, break of 1.3356 minor support will dampen this bullish case and bring retest of 1.3261 instead.
In the bigger picture, as long as 1.3222 cluster support (38.2% retracement of 1.2005 to 1.3976 at 1.3223) holds, larger up trend from 1.2005 (2021 low) is still expected to resume through 1.3976 high at a later stage. However, firm break of 1.3222/3 will indicate that the trend might have reversed. Deeper fall would be seen to next cluster support at 1.2726 (61.8% retracement at 1.2758).
