USD/CAD may fall 16 - 36 pips

Pivot

1.3780

Our preference

Short positions below 1.3780 with targets at 1.3750 & 1.3730 in extension.

Alternative scenario

Above 1.3780 look for further upside with 1.3800 & 1.3820 as targets.

Comment

As long as 1.3780 is resistance, look for choppy price action with a bearish bias.

Supports and resistances

1.3820

1.3800

1.3780

1.3766 Last

1.3750

1.3730

1.3710

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