Technical analysis

USDCAD Wave Analysis – 27 December , 2018

USDCAD Wave Analysis – 27 December , 2018
  • USDCAD boke resistance level 1.3600
  • Further gains are likely

USDCAD continues to rise after the earlier breakout of the resistance level 1.3600 (which was set as the likely upward target in our previous report for this pair).

FxPro analyst said that the breakout of this resistance level accelerated the active medium-term impulse wave (5) from the start of December.

Given the strength of the active daily uptrend – USDCAD is expected to rise further and re-test the next resistance level 1.3700 (intersecting with the resistance trendline of the wide daily up channel from February).

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