Daily Pivots: (S1) 1.3648; (P) 1.3671; (R1) 1.3711; More….
Intraday bias in USD/CAD stays on the upside for the moment. Further rally should be seen to retest 1.3976 high. On the downside, 1.3621 minor support will turn intraday bias neutral first. But outlook will stay bullish as long as 1.3488 support holds, in case of retreat.
In the bigger picture, price actions from 1.3976 are viewed as a corrective pattern only. Upon completion, rise from 1.2005 (2021 low) would resume through 1.3976. Next target is 61.8% projection of 1.2005 to 1.3976 from 1.3091 at 1.4309. For now, this will remain the favored case as long as 55 D EMA (now at 1.3436) holds.
