USDCAD Wave Analysis – 1 June 2023

– USDCAD reversed from resistance level 1.3625

– Likely to fall to support level 1.3400

USDCAD currency pair recently reversed down from the key resistance level 1.3625 (which stopped the previous waves (i) and (b)).

The downward reversal from the resistance level 1.3625 stopped the previous impulse waves (iii), 3 and (3).

USDCAD can be expected to fall further toward the next support level 1.3400 (which stopped the previous minor correction (ii) in the middle of May).