Technical analysis

USDCAD Wave Analysis – 16 June 2023


– USDCAD broke support level 1.3245

– Likely to fall to support level 1.3100

USDCAD falling steadily after the pair broke below the key support level 1.3245 (which has been reversing the price from last November).

The breakout of the support level 1.3245 strengthened the bearish pressure on this currency pair – accelerating the active impulse wave 3.

USDCAD can be expected to fall further toward the next support level 1.3100, likely price for the completion of the active wave (3).

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