USD/CAD: sell target - 1.2850
By: Dmitriy Chernovolov
- USD/CAD reached sell target 1.3200
- Next sell target - 1.2850
USD/CAD recently broke sharply below the support level 1.3200, which was set as the sell target in our previous forecast for this currency pair. The breakout of the support level 1.3200 intensified the bearish pressure on USD/CAD, accelerating the active minor impulse wave 3, which belongs to the intermediate (C)-wave of the primary ABC correction ② from the middle of January.
The pair today broke the round support level 1.3000. If the price closes today below 1.3000 - USD/CAD can then be expected to fall further in the active impulse waves 3 and (C) toward the next sell target at the pivotal support level 1.2850 (which stopped the previous intermediate ABC correction (4) in last October).