USD/CAD may rise 18 - 33 pips

Pivot

1.3825

Our preference

Long positions above 1.3825 with targets at 1.3855 & 1.3870 in extension.

Alternative scenario

Below 1.3825 look for further downside with 1.3810 & 1.3795 as targets.

Comment

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

Supports and resistances

1.3885

1.3870

1.3855

1.3837 Last

1.3825

1.3810

1.3795

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