USDCAD Wave Analysis 9 January 2025

– USDCAD reversed from support zone

– Likely to rise to resistance level 1.4450

USDCAD currency pair recently reversed up from the support zone located between the support level 1.43000, 20-day moving average and the support trendline of the sharp daily up channel from September.

This support zone was further strengthened by the 38.2% Fibonacci correction of the upward impulse from last month.

Given the clear daily uptrend, USDCAD currency pair can be expected to rise to the next resistance level 1.4450 (which stopped the previous waves (3) and B).