Technical analysis

USDCAD Wave Analysis 8 September 2023

– USDCAD reversed from key resistance level 1.3645

– Likely to fall to next support level 1.3585

USDCAD currency pair recently reversed down from the key resistance level 1.3645 (which has been repeatedly reversing the price from April), intersecting with the upper daily Bollinger Band.

The downward reversal from the resistance level 1.3645 stopped the previous short-term correction 2.

Given the overbought daily Stochastic, USDCAD can be expected to fall toward the next support level 1.3585.

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