Technical analysis
USDCAD Wave Analysis 26 April, 2021
April 26, 2021 @ 18:07 +03:00
• USDCAD broke key support level 1.2480
• Likely to fall to support level 1.235
USDCAD continues to fall after the price broke the key support level 1.2480 (which reversed the pair each of the last 5 trading sessions).
The breakout of the support level 1.2480 accelerated the active minor corrective wave (ii) from the middle of April.
Given the strong multi-month downtrend – USDCAD currency pair is likely to fall further toward the next pivotal support level 1.235 (monthly low from March and the target for the completion of the active wave (ii)).
![](https://www.promonetary.com/wp-content/uploads/2021/04/usdcad-primary-analysis-apr-26-1731-pm-1-day.png)