USDCAD today reversed up from the support area lying between the key support level 1.3860 (low of the previous wave A), lower daily Bollinger Band and the 50% Fibonacci retracement of the previous sharp upward impulse (1) from December.
The upward reversal from this support area stopped the earlier short-term impulse wave (i) which belong to the C-wave from the middle of April.
USDCAD is expected to rise further toward the next resistance level 1.4220 (which reversed earlier waves (a) and B).
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