USD/CAD may rise 35 - 53 pips

Our pivot point stands at 1.3696.

Our preference

The upside prevails as long as 1.3696 is support.

Alternative scenario

The downside breakout of 1.3696 would call for 1.3666 and 1.3649.

Comment

The RSI is above its neutrality area at 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 1.3711 and 1.3712).

Supports and resistances

1.3815 **

1.3798 *

1.3780 **

1.3762

1.3727 last

1.3707

1.3696 **

1.3666 *

1.3649 **

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