USD/CAD may rise 35 - 51 pips

Our pivot point is at 1.3442.

Our preference

The upside prevails as long as 1.3442 is support.

Alternative scenario

The downside breakout of 1.3442 would call for 1.3415 and 1.3398.

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 1.3465 and 1.3456).

Supports and resistances

1.3562 **

1.3545 *

1.3529 **

1.3513

1.3478 last

1.3453

1.3442 **

1.3415 *

1.3398 **

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