USD/CAD may rise 30 - 50 pips

Pivot

1.3720

Our preference

Long positions above 1.3720 with targets at 1.3770 & 1.3790 in extension.

Alternative scenario

Below 1.3720 look for further downside with 1.3700 & 1.3680 as targets.

Comment

A support base at 1.3720 has formed and has allowed for a temporary stabilisation.

Supports and resistances

1.3810

1.3790

1.3770

1.3740 Last

1.3720

1.3700

1.3680

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