USD/CAD may rise 31 - 46 pips

Pivot

1.3715

Our preference

Long positions above 1.3715 with targets at 1.3750 & 1.3765 in extension.

Alternative scenario

Below 1.3715 look for further downside with 1.3700 & 1.3685 as targets.

Comment

A support base at 1.3715 has formed and has allowed for a temporary stabilisation.

Supports and resistances

1.3780

1.3765

1.3750

1.3719 Last

1.3715

1.3700

1.3685

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