USDCAD Wave Analysis – 9 May 2025

USDCAD: ⬆️ Buy

– USDCAD reversed from support area

– Likely to rise to resistance level 1.3980

USDCAD currency pair recently reversed up from the support area between the support level 1.3800 (which has been reversing the price from April), lower daily Bollinger Band and the support trendline of the daily down channel from March.

The upward reversal from this support area started the active short-term ABC correction 4.

USDCAD can be expected to rise to the next resistance level 1.3980 (target price for the completion of the active ABC correction 4).

Source: https://fxpro.news