Daily Pivots: (S1) 1.3587; (P) 1.3608; (R1) 1.3634; More….
USD/CAD is staying in consolidation from 1.3664 and intraday bias remains neutral. Further rise is expected as long as 1.3474 resistance turned support holds. As noted before, corrective pattern from 1.3976 should have completed at 1.3261. Break of 1.3664 will resume the rise from 1.3261. Sustained trading above 1.3684 will confirm this bullish case and bring retest of 1.3976.
In the bigger picture, outlook stays bullish with 1.3222 cluster support (38.2% retracement of 1.2005 to 1.3976 at 1.3223) intact. Break of 1.3976 resistance will resume larger up trend from 1.2005 (2021 low) to 61.8% projection of 1.2401 to 1.3976 from 1.3261 at 1.4234.
