Day by day Pivots: (S1) 1.3581; (P) 1.3648; (R1) 1.3701; Extra…
No change in USD/CAD’s outlook. Stronger help remains to be anticipated from 38.2% retracement of 1.3091 to 1.3897 at 1.3589 to include draw back and convey rebound. Break of 1.3711 minor resistance will flip bias again to the upside for retesting 1.3897. Nevertheless, sustained break of 1.3589 will point out that deeper correction is underway to 61.8% retracement at 1.3399 subsequent.
Within the greater image, corrective sample from 1.3976 (2022 excessive) ought to have accomplished with three waves all the way down to 1.3091. Decisive break of 1.3976 excessive will affirm resumption of up development from 1.2005 (2021 low). Subsequent goal is 61.8% projection of 1.2401 to 1.3976 from 1.3091 at 1.4064. This may stay the favored case so long as 1.3378 help holds.
