USDCAD: ⬇️ Sell
– USDCAD reversed from resistance zone
– Likely to fall to support level 1.3625
USDCAD currency pair recently reversed from the resistance zone between the key resistance level 1.3725 (which stopped wave A), upper daily Bollinger Band and the 50% Fibonacci correction of the downward impulse from January.
The downward reversal from this resistance zone stopped the earlier short-term impulse wave C – which belongs to the ABC correction (2) from January.
Given the clear downtrend on the daily and weekly charts, USDCAD currency pair can be expected to fall to the next support level 1.3625.