USD/CAD may rise 25 - 40 pips

Pivot

1.3565

Our preference

Long positions above 1.3565 with targets at 1.3605 & 1.3620 in extension.

Alternative scenario

Below 1.3565 look for further downside with 1.3550 & 1.3535 as targets.

Comment

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

Supports and resistances

1.3635

1.3620

1.3605

1.3580 Last

1.3565

1.3550

1.3535

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