USDCAD currency pair recently reversed up from the support zone lying between the key support level 1.2640 (previous wave 4 from the end of November), 20-day moving average and the 38.2% Fibonacci retracement of the previous upward impulse wave (1) from the middle of October. The upward reversal from this support area started the active intermediate impulse wave (3). Given the clear daily uptrend, USDCAD currency pair can be expected to rise further toward the next resistance level 1.28550 (which has been reversing the price from February).
