USD/CAD intraday : look for a drop towards 1.3824 before a bounce

Our pivot point is at 1.3824.

Our preference: look for a drop towards 1.3824 before a bounce

Alternative scenario: below 1.3824, expect 1.3801 and 1.3787.

Comment: the RSI is above its neutrality area at 50. The MACD is below its signal line and negative. The penetration of 50 on the RSI should trigger further losses. Moreover, the price is above its 20 and 50 period moving average (respectively at 1.3851 and 1.3848).

Supports and resistances:

1.3922 **

1.3908 *

1.3895 **

1.3881

1.3852 last

1.3832

1.3824 **