USDCAD: ⬇️ Sell
– USDCAD reversed from resistance zone
– Likely to fall to support level 1.3500
USDCAD currency pair recently reversed down from the resistance zone between the resistance level 1.3725 (top of the previous impulse wave (1)), resistance trendline of the daily down channel from November and the 50% Fibonacci correction of the upward impulse from July.
The downward reversal from this resistance zone started the active short-term corrective wave 2.
Given the strong daily downtrend, USDCAD currency pair can be expected to fall further to the next support level 1.3500 (which stopped earlier waves C and (2)).