Elliott wave Analysis: USDCAD Looking Bearish

USDCAD can be trading in a minor pullback, labelled as wave iv, which can be unfolding a complex correction with resistance around the Fibonacci ratios of 38.2 and 50.0. A drop in impulsive fashion and below the 1.255 level would suggest more weakness to follow into wave five.

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USDCAD, 1h

usdcad, intra

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