Technical analysis
USDCAD Wave Analysis – 19 June, 2022
June 20, 2022 @ 19:23 +03:00
![USDCAD Wave Analysis – 19 June, 2022 USDCAD Wave Analysis – 19 June, 2022](https://fxpro.news/wp-content/uploads/2021/09/forex-32.jpg)
• USDCAD reversed from resistance level 1.3075
• Likely to fall to support level 1.2940
USDCAD currency pair just reversed down from the strong resistance level 1.3075 (former top of the impulse wave 1 from the start of May) – standing well above the upper daily Bollinger Band.
The downward reversal from the resistance level 1.3075 stopped the previous impulse waves 3 and (3).
Given the strength of the resistance level 1.3075 and the overbought daily Stochastic, USDCAD currency pair can be expected to fall further toward the next support level 1.2940.
![](https://fxpro.news/wp-content/uploads/2022/06/usdcad-primary-analysis-jun-20-1647-pm-1-day-1024x479.png)