USDCAD Wave Analysis – 12 September, 2022

 • USDCAD falling inside short-term corrective wave (ii)

• Likely to fall to support level 1.2900

USDCAD currency pair continues to fall inside the short-term corrective wave (ii), which started earlier from the key resistance level 1.3200 (which stopped wave 1 in July).

Wave (ii) belongs to the higher-order impulse waves 3 and (3) from August and April respectively.

USDCAD can be expected to fall further toward the next support level 1.2900 (low of the previous correction (ii) from August and the target for the completion of the active wave (ii)).