USD/CAD Daily Analysis
USD/CAD is still bounded in the range of 1.3320/3519, and intraday bias remains neutral first. On the downside, the break of 1.3320 will resume the fall from 1.3704 to 1.3224 key support level. On the upside, though, above 1.3519 will turn bias back to the upside for 1.3704 resistance.
In the bigger picture, as long as 1.3222 cluster support (38.2% retracement of 1.2005 to 1.3976 at 1.3223) holds, the larger up trend from 1.2005 (2021 low) is still expected to resume through the 1.3976 high at a later stage. However, a firm break of 1.3222/3 will indicate that the trend might have reversed. A deeper fall would be seen to the next cluster support at 1.2726 (61.8% retracement at 1.2758).