USD/CAD reversed from resistance zone

USD/CAD reversed from resistance zone

  • USD/CAD reversed from resistance zone
  • Next sell target - 1.2750

 USD/CAD recently reversed down from the resistance zone lying between the key resistance level 1.3000 and upper daily Bollinger Band. The downward reversal from this resistance zone created the daily Japanese candlesticks reversal pattern Shooting Star – which marked the start of the active intermediate impulse wave (3). USD/CAD is expected to fall further toward the next sell target at the next support level 1.2750 (low of the previous waves B and (ii)).

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