USD/CAD may fall 40 - 58 pips

1.3677 is our pivot point.

Our preference

The downside prevails as long as 1.3677 is resistance.

Alternative scenario

Above 1.3677, look for 1.3706 and 1.3724.

Comment

The RSI is below 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 1.3664 and 1.3671).

Supports and resistances

1.3724 **

1.3706 *

1.3677 **

1.3665

1.3643 last

1.3603

1.3585 **

1.3568 *

1.3550 **

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