USD/CAD may rise to 1.3780 - 1.3846

Pivot

1.3600

Our preference

Long positions above 1.3600 with targets at 1.3780 & 1.3846 in extension.

Alternative scenario

Below 1.3600 look for further downside with 1.3460 & 1.3360 as targets.

Comment

The RSI lacks downward momentum.

Supports and resistances

1.3899 **

1.3846 ***

1.3780 ***

1.3678 Last

1.3600 ***

1.3460 ***

1.3360 ***

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