USDCAD Wave Analysis – 22 January, 2020
January 22, 2020 @ 16:41 +03:00
- USDCAD reversed from resistance area
- Likely to fall to 1.3030
USDCAD recently reversed down from the resistance area lying between the resistance level 1.3090 (former strong support from December) and the 38.2% Fibonacci correction of the previous sharp downward impulse from last month.
The downward reversal from this resistance area stopped the previous short-term corrective wave (b).
USDCAD is likely to fall further toward the next support level 1.3030 (low of the previous short-term correction a).