USD/CAD may fall 38 - 68 pips

Pivot

1.3850

Our preference

Short positions below 1.3850 with targets at 1.3770 & 1.3740 in extension.

Alternative scenario

Above 1.3850 look for further upside with 1.3870 & 1.3890 as targets.

Comment

The RSI is bearish and calls for further decline.

Supports and resistances

1.3890

1.3870

1.3850

1.3808 Last

1.3770

1.3740

1.3700

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