Wed, Dec 07, 2022 @ 13:28 GMT

USDCAD Wave Analysis

  • USDCAD rising inside impulse wave (3)
  • Likely to reach resistance level 1.3760

USDCAD currency pair continues to rise inside the sharp intermediate impulse wave (3), which previously broke the two intersecting up channels from April and August.

The pair is under the bullish pressure due to the simultaneous strong bullish USD sentiment and the weak CAD sentiment (on oil losses).

USDCAD can be expected to rise further toward the next resistance level 1.3760 (target price for the completion of the active intermediate impulse wave (3)).

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