USD/CAD: buy target - 1.4600
By: Dmitriy Chernovolov
- USD/CAD approached buy target 1.4400
- Next buy target - 1.4600
USD/CAD is currently approaching the resistance level 1.4400, which was set as the buy target in our previous forecast for this currency pair. The pair has been rising sharply in the last few trading sessions inside the 3rd minor impulse wave (iii) (which belongs to the 5th minor impulse wave 5 of the intermediate impulse wave (3) from the middle of October) – which recently broke the two daily up channels from October and June.
If the pair breaks above 1.4400 - USD/CAD will then, most likely, rise to the next buy target at the resistance level 1.4600 (target price calculated for the completion of the active intermediate impulse wave (3)).