USD/CAD: buy targets - 1.2560 and 1.2650
By: Dmitriy Chernovolov
- USD/CAD reached buy target 1.2400
- Next buy targets - 1.2560 and 1.2650
USD/CAD continues to rise after the recent breakout of the resistance level 1.2400, which was set as the buy target in our previous forecast for this currency pair. The breakout of this resistance level accelerated the active intermediate impulse wave (3) – which started earlier this month – when the pair reversed up from the combined support zone surrounding the support level 1.2200 (as can be seen below).
USD/CAD is set to rise further inside the active intermediate impulse wave (3) toward the next buy targets 1.2560 (top of the earlier impulse (1)) and 1.2650 (top of the previous correction 2).