USD/CAD may rise 22 - 42 pips

Pivot

1.3845

Our preference

Long positions above 1.3845 with targets at 1.3890 & 1.3910 in extension.

Alternative scenario

Below 1.3845 look for further downside with 1.3830 & 1.3815 as targets.

Comment

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

Supports and resistances

1.3930

1.3910

1.3890

1.3868 Last

1.3845

1.3830

1.3815

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