Technical analysis

USDCAD Wave Analysis – 8 March 2023


• USDCAD broke resistance level 1.3680

• Likely to rise to resistance level 1.3815

USDCAD currency pair recently broke above the resistance level 1.3680 (which has been reversing the price from the start of December).

The breakout of the resistance level 1.3680 accelerated the active impulse waves (iii) and 3.

USDCAD currency pair can be expected to rise further to the next resistance levels 1.3815 (monthly high from November) – followed by 1.3900.

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