USDCAD Wave Analysis – 21 October, 2019

• USDCAD broke key support level 1.3150
• Likely to fall to 1.3020

USDCAD continues to fall inside the short-term impulse wave 3 which previously broke through the key support level 1.3150 (low of the previous impulse wave (1)).

The active impulse wave 3 belongs to the intermediate impulse sequence (3) from the start of October.

USDCAD is expected to fall further and retest the next support level 1.3020 (multi-month low from the middle of July).