USD/CAD may fall 30 - 50 pips

Pivot

1.3850

Our preference

Short positions below 1.3850 with targets at 1.3790 & 1.3770 in extension.

Alternative scenario

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

Comment

As long as the resistance at 1.3850 is not surpassed, the risk of the break below 1.3790 remains high.

Supports and resistances

1.3890

1.3870

1.3850

1.3820 Last

1.3790

1.3770

1.3740

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