USD/CAD may rise 21 - 36 pips

Pivot

1.3815

Our preference

Long positions above 1.3815 with targets at 1.3850 & 1.3865 in extension.

Alternative scenario

Below 1.3815 look for further downside with 1.3800 & 1.3785 as targets.

Comment

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

Supports and resistances

1.3880

1.3865

1.3850

1.3829 Last

1.3815

1.3800

1.3785

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