USD/CAD may rise 41 - 58 pips

Our pivot point stands at 1.3720.

Our preference

As long as 1.3720 is support look for 1.3806.

Alternative scenario

Below 1.3720, expect 1.3690 and 1.3672.

Comment

The RSI is above its neutrality area at 50. The MACD is positive and below its signal line. The pair could retrace. Moreover, the price is below its 20 period moving average (1.3751) but above its 50 period moving average (1.3729).

Supports and resistances

1.3842 **

1.3824 *

1.3806 **

1.3789

1.3748 last

1.3731

1.3720 **

1.3690 *

1.3672 **

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