USDCAD recently reversed down from the resistance area lying between the key resistance level 1.3320 (which has been reversing the price from October), upper daily Bollinger Band and the 61,8% Fibonacci correction of the previous downward impulse from May.
The downward reversal from this resistance area stopped the earlier short-term ABC correction (ii) from December.
USDCAD is likely to fall further toward the next support level 1.3250 (former resistance from December).
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