Daily Pivots: (S1) 1.3480; (P) 1.3495; (R1) 1.3517; More…
Intraday bias in USD/CAD remains neutral first. On the upside, above 1.3538 will resume the rebound from 1.3418 to 1.3646 resistance. ON the downside, firm break of 1.3418 will resume whole decline from 1.3946 towards 1.3176 key support.
In the bigger picture, corrective pattern from 1.3976 (2022 high) is extending with another falling leg. While deeper decline could be seen, strong support should emerge above 1.2947 resistance turned support to bring rebound. Rise from 1.2005 (2021 low) is still in favor to resume at a later stage.
