USD/CAD may fall 30 - 50 pips

Pivot

1.3670

Our preference

Short positions below 1.3670 with targets at 1.3605 & 1.3585 in extension.

Alternative scenario

Above 1.3670 look for further upside with 1.3700 & 1.3725 as targets.

Comment

The RSI calls for a new downleg.

Supports and resistances

1.3725

1.3700

1.3670

1.3635 Last

1.3605

1.3585

1.3565

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