USD/CAD may rise 26 - 46 pips

Pivot

1.3620

Our preference

Long positions above 1.3620 with targets at 1.3660 & 1.3680 in extension.

Alternative scenario

Below 1.3620 look for further downside with 1.3600 & 1.3585 as targets.

Comment

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

Supports and resistances

1.3700

1.3680

1.3660

1.3634 Last

1.3620

1.3600

1.3585

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