Intraday bias in USD/CAD remains on the upside. The rise from 1.3730 is still in progress. A break of 1.4127 resistance will bring a retest of the 1.4247 high. On the downside, a move below 1.4057 minor support will turn intraday bias neutral first.
Bigger Picture
The current rebound suggests that USD/CAD is still staying in a medium-term consolidation pattern from 1.3480. As long as the 61.8% retracement of 1.4791 (2025 high) to 1.3480, at 1.4290, holds, an eventual break of 1.3480 remains favored. However, a firm break of 1.4290 would dampen this view and shift the target back toward the 1.4791 high instead.
