Categories: Technical analysis

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).

The FxPro Tech Analysis Team

The FxPro technical experts prepare a daily analysis of the most active currency pairs (majors, crosses, exotics) and commodities. Selected instruments are reviewed on daily trends (D1, H4), using the active Elliott Wave setups, Japanese candlesticks, indicators, and support/resistance levels.

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Tags: USDCAD

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