USD/CAD may fall 28 - 48 pips

Pivot

1.3805

Our preference

Short positions below 1.3805 with targets at 1.3750 & 1.3730 in extension.

Alternative scenario

Above 1.3805 look for further upside with 1.3820 & 1.3835 as targets.

Comment

As long as 1.3805 is resistance, look for choppy price action with a bearish bias.

Supports and resistances

1.3835

1.3820

1.3805

1.3778 Last

1.3750

1.3730

1.3710

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