Day by day Pivots: (S1) 1.3417; (P) 1.3480; (R1) 1.3552; Extra…
USD/CAD’s rally remains to be in progress and intraday bias stays on the upside. Present up development ought to goal medium time period fibonacci stage at 1.3650. On the draw back, beneath 1.3343 minor help will flip intraday bias impartial and produce consolidations first, earlier than staging one other rally.
Within the greater image, down development from 1.4667 (2020 excessive) ought to have accomplished at 1.2005, after defending 1.2061 long run cluster help. Rise from there ought to goal 61.8% retracement of 1.4667 to 1.2005 (2021 low) at 1.3650. It will stay the favored case now so long as 1.2716 help holds.
