Technical analysis

USDCAD Wave Analysis 22 February 2024

– USDCAD reversed from resistance level 1.3530

– Likely to fall to support level 1.3400

USDCAD currency pair recently reversed down from the pivotal resistance level 1.3530 (which has been repeatedly reversing the pair from the middle of January).

The downward reversal from the resistance level 1.3530 will most likely form the daily Evening Star today – strong sell signal for this currency pair.

USDCAD currency pair can be expected to fall further to the next support level 1.3400, which stopped the previous minor correction ii.

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