USD/CAD Daily Outlook - Action Forex
USD/CAD reversed after edging higher to 1.4414, but stays in established range. intraday bias remains neutral for the moment. Overall, corrective pattern from 1.4791 is still extending. On the upside, break of 1.4414 will argue that it's still in the second leg. Intraday bias will be turned back to the upside fro 1.4541 resistance first, and then 100% projection of 1.4150 to 1.4541 from 1.4234 at 1.4625. On the downside, though, break of 1.42324 support will suggest that the third leg has already started for 1.4150 and below.
