Daily Pivots: (S1) 1.4367; (P) 1.4405; (R1) 1.4440; More…
USD/CAD is staying in consolidations below 1.4466 and intraday bias remains neutral. Another retreat cannot be ruled out, but outlook will stay bullish as long as 1.4177 resistance turned support holds. On the upside, break of 1.4466 and sustained trading above 1.4391 will pave the way to retest 1.4667/89 long term resistance zone.
In the bigger picture, up trend from 1.2005 (2021) is in progress and met 61.8% projection of 1.2401 to 1.3976 from 1.3418 at 1.4391 already. Sustained trading above there will pave the way to 1.4667/89 key resistance zone (2020/2015 highs). Medium term outlook will remain bullish as long as 1.3976 resistance turned holds, even in case of deep pullback.
