USDCAD Wave Analysis – 18 August, 2020

• USDCAD broke pivotal support level 1.3200

• Likely to fall to 1.3100

USDCAD today broke below the pivotal support level 1.3200 (former monthly low from, February – was also reversed the price earlier this month)

The breakout of the support level 1.3200 continues the active sharp daily downtrend from the middle of March.

USDCAD is likely to fall further in the active impulse waves C and (v) toward the next support level 1.3100.