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USDCAD reversed from support area - 15 March, 2019

  • USDCAD reversed from support area
  • Further gains are likely

USDCAD recently reversed up from the support area lying between the key support level 1.3320 (former strong resistance from February) and the 38.2% Fibonacci correction of the previous upward impulse from February.

The upward reversal from this support area completed the previous short-term correction (ii).

USDCAD is expected to rise further in the active impulse wave (ii) and re-test the next resistance level 1.3470 (top of the previous impulse wave (i)).


Source: FxPro

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