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USD/CAD reversed from support zone

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  • USD/CAD reversed from support zone
  • Next buy target - 1.3300

USD/CAD recently reversed up from the support zone lying between the support level 1.3070 (former resistance from March), lower daily Bollinger Band, 50-day moving average and the 38.2% Fibonacci correction of the previous upward impulse (1) from the middle of April. The upward reversal from this support zone started the active impulse wave (3). USD/CAD is expected to rise further toward the next buy target at the next resistance level 1.3300.

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