The USD made decisive moves mostly with the exotic currencies - let's have a look to prepare for new market entries.
USD/CAD rising inside minor impulse wave 3
- USD/CAD rising inside minor impulse wave 3
- Next buy targets - 1.3540 and 1.3600
USD/CAD continues to rise inside the sharp minor impulse wave 3 which started earlier from the support zone lying between the support level 1.3260, lower daily Bollinger Band, 50% Fibonacci correction of the upward impulse 1 from January and the support trendline of the daily down channel from March (which has enclosed the previous ABC correction 2).
USD/CAD is expected to rise to the next buy target at the resistance level 1.3540 (top of the previous wave 1) – the breakout of which can lead to further gains toward 1.3600 (top of wave (1) from December).
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USD/CAD has made an immense move to the downside on Tuesday falling by about 200 pips.