USD/CAD reversed from resistance zone
- USD/CAD reversed from resistance zone
- Next sell target - 1.2800
USD/CAD recently reversed down sharply from the major resistance level 1.3120 (which is the lower boundary of the powerful resistance zone which has been reversing this currency pair from May). The downward reversal from the resistance level 1.3120 created the daily Japanese candlesticks reversal pattern Evening Star – which marked the end of the previous minor ABC correction 2.
USD/CAD is expected to fall down further toward the next sell target at the support level 1.2800 (which stopped the previous minor impulse wave 1 in August, as can be seen below).