USD/CAD may rise 16 - 31 pips

Pivot

1.3625

Our preference

Long positions above 1.3625 with targets at 1.3660 & 1.3675 in extension.

Alternative scenario

Below 1.3625 look for further downside with 1.3610 & 1.3595 as targets.

Comment

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

Supports and resistances

1.3690

1.3675

1.3660

1.3644 Last

1.3625

1.3610

1.3595

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