USDCAD continues to rise sharply inside the multi-month impulse wave (3) – which previously broke through the major resistance area lying between the long-term key resistance level 1.36600 (which stopped the sharp uptrend in at the end of 2018. as can be seen from the weekly USDCAD chart below) and 1.38000 (multi-month resistance from 2017). Given the strong bullish US dollar sentiment seen across the markets today – USDCAD is likely to rise further toward the next resistance level 1.42000 (target price for the completion of the active impulse sequence (3)).
