USDCAD Wave Analysis

  • USDCAD reversed from pivotal resistance level 1.3760
  • Likely to fall to support level 1.3675

USDCAD currency pair under the bearish pressure after the price reversed down 3 times in a row from the pivotal resistance level 1.3760 (which has been reversing the price from the end of April).

Each of the last 3 downward reversals form the resistance level 1.3760 created the daily Japanese candlesticks reversal patterns Hammer.

Given the strength of the resistance level 1.3760, USDCAD currency pair can be expected to fall further to the next support level 1.3675.

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