USD/CAD may rise 36 - 52 pips

1.3847 is our pivot point.

Our preference

The upside prevails as long as 1.3847 is support.

Alternative scenario

Below 1.3847, expect 1.3820 and 1.3804.

Comment

The RSI is above 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 1.3860 and 1.3866).

Supports and resistances

1.3954 **

1.3937 *

1.3921 **

1.3905

1.3869 last

1.3858

1.3847 **

1.3820 *

1.3804 **

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