Daily Pivots: (S1) 1.4000; (P) 1.4039; (R1) 1.4069; More…
Intraday bias in USD/CAD remains neutral for the moment, and more consolidations would be seen below 1.4177. Nevertheless, further rally is expected as long as 1.3930 support holds. Firm break of 1.4177 will resume larger up trend.
In the bigger picture, up trend from 1.2005 (2021) is resuming with break of 1.3976 key resistance (2022 high). Next target is 61.8% projection of 1.2401 to 1.3976 from 1.3418 at 1.4391. Now, medium term outlook will remain bullish as long as 1.3418 support holds, even in case of deep pullback.
