USD/CAD may rise 40 - 70 pips

Pivot

1.3855

Our preference

Long positions above 1.3855 with targets at 1.3915 & 1.3945 in extension.

Alternative scenario

Below 1.3855 look for further downside with 1.3830 & 1.3815 as targets.

Comment

A support base at 1.3855 has formed and has allowed for a temporary stabilisation.

Supports and resistances

1.3980

1.3945

1.3915

1.3875 Last

1.3855

1.3830

1.3815

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