USD/CAD may fall 18 - 38 pips

Pivot

1.3775

Our preference

Short positions below 1.3775 with targets at 1.3735 & 1.3715 in extension.

Alternative scenario

Above 1.3775 look for further upside with 1.3790 & 1.3805 as targets.

Comment

As long as 1.3775 is resistance, look for choppy price action with a bearish bias.

Supports and resistances

1.3805

1.3790

1.3775

1.3753 Last

1.3735

1.3715

1.3700

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