USD/CAD may rise 29 - 43 pips

1.3609 is our pivot point.

Our preference

The upside prevails as long as 1.3609 is support.

Alternative scenario

The downside breakout of 1.3609 would call for 1.3585 and 1.3572.

Comment

The RSI is above its neutrality area at 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 1.3625 and 1.3623).

Supports and resistances

1.3703 **

1.3689 *

1.3675 **

1.3661

1.3632 last

1.3618

1.3609 **

1.3585 *

1.3572 **

Number of asterisks represents the strength of support and resistance levels.