Technical analysis

USDCAD Wave Analysis 20 April, 2021

• USDCAD reversed from support level 1.2475

• Likely to rise to resistance level 1.2600

USDCAD recently reversed up from the pivotal support level 1.2475 (which has been reversing the price for the last few trading sessions) – strengthened by the lower daily Bollinger Band.

The upward reversal from the support level 1.2475 created the daily Hammer – stopping the previous wave (ii).

USDCAD is likely to rise further toward the next resistance level 1.2600 (which has been reversing the price from start of April).

Article Rating
Rate this post