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USDCAD broke key resistance level 1.3390

December 06, 2018 at 03:25PM
  • USDCAD broke key resistance level 1.3390
  • Further gains are likely

USDCAD today broke through the strong resistance level 1.3390 (which stopped the previous medium-term impulse wave (5) and the sharp daily uptrend in June – as can be seen from the daily chart below).

The breakout of the resistance level 1.3390 should accelerate the active medium–term impulse wave (3) – which belongs to the longer-term upward impulse sequence from the end of September.

USDCAD is expected to rise further and re-test the next resistance level 1.3500 (target price for the completion of the active impulse wave (3)).

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From: Wave Tech Analysis https://fxpro.news/market-snapshots/usdcad-broke-key-resistance-level-1-3390-20181206/
Selected by fonecable.com

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