USDCAD began the week slightly higher reaching as high as 1.2510 but failed to sustain these gains.
USD/CAD broke support zone
2019-11-11 • Updated
- USD/CAD broke support zone
- Next sell target - 1.2600
USD/CAD continues to fall after the earlier breakout of the support zone lying between the pivotal support level 1.2800 (which reversed the price twice in March) and the 38.2% Fibonacci correction of the upward price impulse 1 from the start of February. The breakout of this support zone accelerated the active minor impulse wave (c). USD/CAD is expected to fall further toward the next sell target at the next support level 1.2600.
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Last week brought a selloff in markets. Some assets reached the most crucial support levels and are likely to reverse in a short term. Be ahead of trends and make the most out of this week!