USD/CAD may rise 39 - 56 pips

Our pivot point stands at 1.3810.

Our preference

As long as 1.3810 is support look for 1.3894.

Alternative scenario

The downside breakout of 1.3810 would call for 1.3781 and 1.3764.

Comment

The RSI is above 50. The MACD is below its signal line and positive. The pair could retrace. Moreover, the price is below its 20 period moving average (1.3839) but above its 50 period moving average (1.3828).

Supports and resistances

1.3929 **

1.3912 *

1.3894 **

1.3877

1.3838 last

1.3822

1.3810 **

1.3781 *

1.3764 **

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