USDCAD Wave Analysis

  • USDCAD broke key resistance level 1.3625
  • Likely to rise to resistance level 1.3860

USDCAD rising strongly after the earlier breakout of the key resistance level 1.3625 (which has been reversing the price from December) intersecting with the 61.8% Fibonacci correction of the downward ABC correction (2) from November.

The breakout of the resistance level 1.3625 coincided with the breakout of the daily up channel from January.

USDCAD can be expected to rise further to the next resistance level 1.3860 (former multi-month high from October, and the target for the completion of the active impulse iii).

FxPro is an award-winning online broker offering Contracts for Difference (CFDs) on forex, futures, spot indices, shares, spot metals and spot energies. FxPro serves clients in over 150 countries worldwide and offers multilingual customer support 24/5. Trading CFDs involves significant risk of loss.

Featured Analysis

Learn Forex Trading