USDCAD currency pair recently reversed down from the resistance area located between the key resistance level 1.28700 (which has been steadily reversing the price from the end of February) and the upper daily Bollinger Band. The downward reversal from this resistance area started the active short-term impulse wave 3. Given the continued bullish Canadian dollar sentiment seen across the currency markets today (on crude oil gains) – USDCAD currency pair can be expected to fall further toward the
next support level 1.26700 (former top of wave (a)).