USD/CAD may rise 30 - 50 pips

Pivot

1.3835

Our preference

Long positions above 1.3835 with targets at 1.3890 & 1.3910 in extension.

Alternative scenario

Below 1.3835 look for further downside with 1.3810 & 1.3785 as targets.

Comment

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

Supports and resistances

1.3940

1.3910

1.3890

1.3860 Last

1.3835

1.3810

1.3785

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