USD/CAD may rise 34 - 52 pips

Our pivot point stands at 1.3813.

Our preference

As long as 1.3813 is support look for 1.3901.

Alternative scenario

The downside breakout of 1.3813 would call for 1.3784 and 1.3767.

Comment

The RSI is above 50. The MACD is positive and below its signal line. The pair could retrace. Moreover, the price is above its 20 and 50 period moving average (respectively at 1.3838 and 1.3827).

Supports and resistances

1.3935 **

1.3918 *

1.3901 **

1.3883

1.3849 last

1.3825

1.3813 **

1.3784 *

1.3767 **

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