USD/CAD may fall 27 - 47 pips

Pivot

1.3700

Our preference

Short positions below 1.3700 with targets at 1.3650 & 1.3630 in extension.

Alternative scenario

Above 1.3700 look for further upside with 1.3725 & 1.3755 as targets.

Comment

As long as 1.3700 is resistance, look for choppy price action with a bearish bias.

Supports and resistances

1.3755

1.3725

1.3700

1.3677 Last

1.3650

1.3630

1.3610

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