USD/CAD may rise 22 - 37 pips

Pivot

1.3705

Our preference

Long positions above 1.3705 with targets at 1.3745 & 1.3760 in extension.

Alternative scenario

Below 1.3705 look for further downside with 1.3690 & 1.3675 as targets.

Comment

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

Supports and resistances

1.3780

1.3760

1.3745

1.3723 Last

1.3705

1.3690

1.3675

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