USD/CAD may rise 12 - 27 pips

Pivot

1.3740

Our preference

Long positions above 1.3740 with targets at 1.3775 & 1.3790 in extension.

Alternative scenario

Below 1.3740 look for further downside with 1.3725 & 1.3705 as targets.

Comment

A support base at 1.3740 has formed and has allowed for a temporary stabilisation.

Supports and resistances

1.3810

1.3790

1.3775

1.3763 Last

1.3740

1.3725

1.3705

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