USD/CAD Short Trade
USDCAD began the week slightly higher reaching as high as 1.2510 but failed to sustain these gains.
USD/CAD broke key support level 1.2770
2019-11-11 • Updated
- USD/CAD broke key support level 1.2770
- Next sell target - 1.2600
USD/CAD continues to fall sharply inside the minor impulse wave 5 which belongs to the strong intermediate downward impulse wave (3) from the start of June. The price earlier broke through the round support level 1.3000 and more recently – it broke through the key support level 1.2770 (low of the previous minor correction 2 from August of 2016). Both of these support breakouts strengthened the bearish pressure on this currency pair. USD/CAD is expected to fall to the next sell target at the next support level 1.2600.
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