USDCAD: ⬇️ Sell
- USDCAD falling inside wave C
- Likely to test support level 1.3860
USDCAD currency pair recently reversed down from the resistance zone between the key resistance level 1.4015 (former monthly high from May), upper daily Bollinger Band and the 38.2% Fibonacci correction of the downward impulse from January.
This resistance zone was further strengthened by the resistance trendline of the daily up channel from July.
Given the strongly bearish US dollar sentiment seen today, USDCAD currency pair can be expected to fall to the next support level 1.3860 (target for the completion of the active wave C).
, upper daily Bollinger Band and the 38.2% Fibonacci correction of the downward impulse from January.){kind=link}