USD/CAD may rise 22 - 37 pips

Pivot

1.3630

Our preference

Long positions above 1.3630 with targets at 1.3675 & 1.3690 in extension.

Alternative scenario

Below 1.3630 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

1.3705

1.3690

1.3675

1.3653 Last

1.3630

1.3610

1.3595

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