USDCAD Wave Analysis 30 December 2024
- USDCAD reversed from resistance zone
- Likely to fall to support level 1.4400
USDCAD currency pair recently reversed down from the resistance zone surrounding the major long-term resistance level 1.4400 (which stopped the sharp uptrend at the start of 2020) intersecting with the upper weekly Bollinger Band.
The downward reversal from the resistance level 1.4400 stopped the previous medium-term impulse wave (5).
Given the strength of the support level 1.4400 and the overbought reading on the weekly Stochastic indicator, USDCAD currency pair can be expected to fall to the next support level 1.4315.
Alexander Kuptsikevich,
Chief Market Analyst at FxPro
----------
Follow our Telegram channel t.me/fxpro dedicated to providing insightful market analysis and expertise.
Reach out to media.comments@fxpro.com for PR and media inquiries
Chief Market Analyst at FxPro
----------
Follow our Telegram channel t.me/fxpro dedicated to providing insightful market analysis and expertise.
Reach out to media.comments@fxpro.com for PR and media inquiries
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Alexander Kuptsikevich,
Chief Market Analyst at FxPro
----------
Follow our Telegram channel t.me/fxpro dedicated to providing insightful market analysis and expertise.
Reach out to media.comments@fxpro.com for PR and media inquiries
Chief Market Analyst at FxPro
----------
Follow our Telegram channel t.me/fxpro dedicated to providing insightful market analysis and expertise.
Reach out to media.comments@fxpro.com for PR and media inquiries
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.