USDCAD Wave Analysis – 23 December, 2021

• USDCAD reversed from resistance level 1.2960

• Likely to fall to support level 1.2765

USDCAD currency pair recently reversed down from the long-term resistance level 1.2960 (which has been reversing the part from the end of last year).

The downward reversal from the resistance level 1.2960 started the active short-term ABC correction 2.

USDCAD can be expected to fall further toward the next support level 1.2765 (target for the completion of the active ABC correction 2).