USD/CAD may fall 16 - 36 pips

Pivot

1.3740

Our preference

Short positions below 1.3740 with targets at 1.3705 & 1.3685 in extension.

Alternative scenario

Above 1.3740 look for further upside with 1.3760 & 1.3780 as targets.

Comment

As long as the resistance at 1.3740 is not surpassed, the risk of the break below 1.3705 remains high.

Supports and resistances

1.3780

1.3760

1.3740

1.3721 Last

1.3705

1.3685

1.3670

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