USDCAD Chart Technical Outlook

USDCAD Chart Technical Outlook develops a corrective wave in a bullish structure

USD/CAD’s broad bias is bullish. Prices correct lower to print wave four of the current bullish structure. A break below 1.3725 opens the door toward 1.3690, confluence support from a 50% Fibo retracement level and order block candle. Resistances are seen at 1.3800 and 1.3840. I expect the corrective sell-off to develop a three-wave structure.

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