USD/CAD: buy target - 1.3420
By: Dmitriy Chernovolov
- USD/CAD reached buy target 1.3300
- Next buy target - 1.3420
USD/CAD recently reached the resistance level 1.3300, which was set as the buy target in our previous forecast for this currency pair. The active impulse wave 3 (which belongs to the 5th intermediate impulse wave (5) from the middle of October) recently broke the resistance trendline of the daily Triangle from the end of September – which intensified the bullish pressure on this currency pair.
USD/CAD is likely to rise further in the active impulse waves 3 and (5) toward the next buy target at the next resistance level 1.3420 (which stopped the B-wave of the previous ABC correction (4)).