USD/CAD may rise 25 - 40 pips

Pivot

1.3680

Our preference

Long positions above 1.3680 with targets at 1.3720 & 1.3735 in extension.

Alternative scenario

Below 1.3680 look for further downside with 1.3670 & 1.3655 as targets.

Comment

Even though a continuation of the consolidation cannot be ruled out, its extent should be limited.

Supports and resistances

1.3750

1.3735

1.3720

1.3695 Last

1.3680

1.3670

1.3655

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