USD/CAD pushes lower from the 261.8% extension
The pair completed a bullish Elliott Wave count close to the 261.8% Fibonacci extension level of 1.3488 (from 1.3093-1.3243). This would suggest that the next move is lower and corrective.
We have seen an impulse move to the downside at the open. There is no clear indication that this negative trend is coming to an end. The first support zone is located at 1.3319.
We have seen an impulse move to the downside at the open. There is no clear indication that this negative trend is coming to an end. The first support zone is located at 1.3319.