USD/CAD may fall 20 - 40 pips

Pivot

1.3745

Our preference

Short positions below 1.3745 with targets at 1.3705 & 1.3685 in extension.

Alternative scenario

Above 1.3745 look for further upside with 1.3765 & 1.3780 as targets.

Comment

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

Supports and resistances

1.3780

1.3765

1.3745

1.3725 Last

1.3705

1.3685

1.3670

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