USD/CAD may rise 16 - 31 pips

Pivot

1.3835

Our preference

Long positions above 1.3835 with targets at 1.3865 & 1.3880 in extension.

Alternative scenario

Below 1.3835 look for further downside with 1.3810 & 1.3795 as targets.

Comment

The RSI lacks downward momentum.

Supports and resistances

1.3900

1.3880

1.3865

1.3849 Last

1.3835

1.3810

1.3795

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