Every day Pivots: (S1) 1.3713; (P) 1.3776; (R1) 1.3895; Extra…
Intraday bias in USD/CAD stays on the upside at this level. Present up pattern ought to goal 161.8% projection of 1.2005 to 1.2947 from 1.2401 at 1.3925. Agency break there’ll goal 200% projection at 1.4285. On the draw back, break of 1.3601 minor help is required to point brief time period topping. In any other case, outlook will keep bullish in case of retreat.
Within the larger image, up pattern from 1.2005 (2021 low) continues to be in progress. Based mostly on present impulsive momentum, it may very well be resuming long run up pattern from 0.9056 (2007 low). Whether or not it’s or it isn’t, retest of 1.4689 (2016 excessive) needs to be seen subsequent. This can now stay the favored case so long as 1.3222 resistance turned help holds.
