USD/CAD may rise 21 - 36 pips

Pivot

1.3700

Our preference

Long positions above 1.3700 with targets at 1.3730 & 1.3745 in extension.

Alternative scenario

Below 1.3700 look for further downside with 1.3685 & 1.3670 as targets.

Comment

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

Supports and resistances

1.3760

1.3745

1.3730

1.3709 Last

1.3700

1.3685

1.3670

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