USD/CAD may rise 37 - 54 pips

Our pivot point stands at 1.3751.

Our preference

As long as 1.3751 is support look for 1.3837.

Alternative scenario

The downside breakout of 1.3751 would call for 1.3722 and 1.3705.

Comment

The RSI is above 50. The MACD is below its signal line and positive. The pair could retrace. Moreover, the price is above its 20 and 50 period moving average (respectively at 1.3778 and 1.3767).

Supports and resistances

1.3871 **

1.3854 *

1.3837 **

1.3820

1.3783 last

1.3763

1.3751 **

1.3722 *

1.3705 **

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