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HomeContributorsTechnical AnalysisUSDCAD Trading In A Temporary Correction, Resistance Seen Around 1.3464/1.3496 Region

USDCAD Trading In A Temporary Correction, Resistance Seen Around 1.3464/1.3496 Region

Elliott Wave Financial Service
By Elliott Wave Financial Service

On the hourly chart of USDCAD, we see price undergoing a bigger three wave recovery A-B-C. Current intraday strength is part of final wave C, that may extend its gains towards the Fibonacci ratio of 61.8. Resistance may also be seen around the 1.3464/1.3496 region, where previous swing highs may act as turning points lower.

USDCAD, 1H

Elliott Wave Financial Service
Elliott Wave Financial Servicehttp://www.ew-forecast.com/
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