USD/CAD may rise 27 - 42 pips

Pivot

1.3740

Our preference

Long positions above 1.3740 with targets at 1.3785 & 1.3800 in extension.

Alternative scenario

Below 1.3740 look for further downside with 1.3720 & 1.3700 as targets.

Comment

A support base at 1.3740 has formed and has allowed for a temporary stabilisation.

Supports and resistances

1.3820

1.3800

1.3785

1.3758 Last

1.3740

1.3720

1.3700

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