USDCAD Wave Analysis 3 September 2024

– USDCAD reversed from key support level 1.3450

– Likely to rise to resistance level 1.3600

USDCAD currency pair recently reversed up from the key support level 1.3450 (which has been reversing the price from February) standing near the lower daily Bollinger Band.

The upward reversal from the support level 1.3450 stopped the previous primary ABC correction (2).

Given the oversold daily Stochastic, USDCAD currency pair can be expected to rise further to the next resistance level 1.3600, former monthly low from July.