USD/CAD may rise 22 - 37 pips

Pivot

1.3775

Our preference

Long positions above 1.3775 with targets at 1.3815 & 1.3830 in extension.

Alternative scenario

Below 1.3775 look for further downside with 1.3760 & 1.3745 as targets.

Comment

Even though a continuation of the consolidation cannot be ruled out, its extent should be limited.

Supports and resistances

1.3845

1.3830

1.3815

1.3793 Last

1.3775

1.3760

1.3745

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