USD/CAD may rise 28 - 41 pips

Our pivot point stands at 1.3682.

Our preference

As long as 1.3682 is support look for 1.3746.

Alternative scenario

The downside breakout of 1.3682 would call for 1.3661 and 1.3648.

Comment

The RSI is above its neutrality area at 50. The MACD is positive and below its signal line. The pair could retrace. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 1.3694 and 1.3673).

Supports and resistances

1.3772 **

1.3759 *

1.3746 **

1.3733

1.3705 last

1.3691

1.3682 **

1.3661 *

1.3648 **

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