USD/CAD reversed from resistance zone
- USD/CAD reversed from resistance zone
- Next sell targets - 1.3000 and 1.2800
USD/CAD recently reversed down from the resistance zone (which has been steadily reversing this currency pair from the end of May) lying between the resistance levels 1.3120, 1.3230, upper daily Bollinger Band and the 50% Fibonacci correction of the previous sharp downward impulse from February. The downward reversal from this resistance zone started the active minor impulse wave (iii) – which belongs to wave 1 of the intermediate impulse wave (3) from July.
USD/CAD is set to fall further to the next sell target at the support level 1.3000 – the breakout of which can lead to further losses toward 1.2800.