USD/CAD may rise 29 - 49 pips

Pivot

1.3835

Our preference

Long positions above 1.3835 with targets at 1.3880 & 1.3900 in extension.

Alternative scenario

Below 1.3835 look for further downside with 1.3815 & 1.3795 as targets.

Comment

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

Supports and resistances

1.3915

1.3900

1.3880

1.3851 Last

1.3835

1.3815

1.3795

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