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USD/CAD broke key support level 1.2420

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  • USD/CAD broke key support level 1.2420
  • Next sell target - 1.2100

USD/CAD continues to fall strongly after the earlier breakout of the key support level 1.2420 (which stopped the previous sharp impulse wave (1) and which was set as the sell target in our earlier forecast for this currency pair). The breakout of the support level 1.2420 accelerated the active minor impulse wave 3 – which started earlier from the resistance trendline of the daily down channel from the middle of May. USD/CAD is expected to fall to next sell target at the next support level 1.2100 (forecast price for the completion of the active impulse wave 3).

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