USDCAD continues to fall after the pair reversed down from the key resistance level 1.30750 (the previous monthly high from May and June, as can be seen from the daily USDCAD chart below), intersecting with the upper daily Bollinger Band. The downward reversal from the resistance level 1.30750 stopped the earlier impulse wave 3. Given the strength of the resistance level 1.30750 and the slightly bullish CAD sentiment seen
across the FX markets lately, USDCAD currency pair can be expected to fall further toward the next support level 1.29500.
