USD/CAD may fall 35 - 48 pips

Our pivot point is at 1.3695.

Our preference

The downside prevails as long as 1.3695 is resistance.

Alternative scenario

Above 1.3695, look for 1.3716 and 1.3729.

Comment

The RSI is below 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 1.3690 and 1.3701).

Supports and resistances

1.3729 **

1.3716 *

1.3695 **

1.3686

1.3677 last

1.3642

1.3629 **

1.3616 *

1.3604 **

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