Market Snapshots

USDCAD Wave Analysis 02 November, 2020

USDCAD Wave Analysis 02 November, 2020

• USDCAD reversed from resistance zone

• Likely to fall to 1.3200

USDCAD continues to fall after the earlier downward reversal from the resistance zone lying between the resistance levels 1.3400, 1.3345, upper daily Bollinger Band and the 50% Fibonacci correction of the downward impulse C from June.

The downward reversal from this resistance zone stopped the earlier upward impulse waves 3 and (3).

USDCAD is likely to fall further toward the next support level 1.3200 (former resistance from the middle of October).

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