USD/CAD may fall 27 - 47 pips

Pivot

1.3650

Our preference

Short positions below 1.3650 with targets at 1.3600 & 1.3580 in extension.

Alternative scenario

Above 1.3650 look for further upside with 1.3670 & 1.3690 as targets.

Comment

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

Supports and resistances

1.3690

1.3670

1.3650

1.3627 Last

1.3600

1.3580

1.3555

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