Technical analysis

USDCAD Wave Analysis 23 April 2024

– USDCAD reversed from long-term resistance level 1.3840

– Likely to fall to support level 1.3600

USDCAD currency pair continues to fall after the pair reversed down with the weekly Shooting Star from the major long-term resistance level 1.3840, which has been reversing the pair from 2022.

The resistance level 1.3840 was strengthened by the upper weekly Bollinger Band.

Give the overbought weekly Stochastic, USDCAD currency pair can be expected to fall further to the next support level 1.3600.

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