Daily Pivots: (S1) 1.3736; (P) 1.3764; (R1) 1.3779; More…
Intraday bias in USD/CAD stays neutral for consolidation below 1.3837 temporary top. Downside of retreat should be contained above 1.3646 resistance turned support. On the upside, above 1.3837 will resume the rally from 1.3418 to 1.3946/76 key resistance zone.
In the bigger picture, sideway consolidation pattern from 1.3976 (2022 high) might still extend further. While another decline cannot be ruled out, 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.
