USD/CAD may rise 32 - 47 pips

Our pivot point is at 1.3563.

Our preference

The upside prevails as long as 1.3563 is support.

Alternative scenario

The downside breakout of 1.3563 would call for 1.3537 and 1.3522.

Comment

The RSI is above 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 1.3579 and 1.3580). Finally, the USD/CAD is trading above its upper Bollinger band (standing at 1.3590).

Supports and resistances

1.3669 **

1.3653 *

1.3638 **

1.3623

1.3591 last

1.3573

1.3563 **

1.3537 *

1.3522 **

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