USD/CAD has been falling sharply in the last few trading days inside the intermediate (C)-wave of the second primary ABC correction ②from the middle of March. The latest 3rd minor impulse wave 3 of this (C)-wave earlier broke the daily up channel which has enclosed the (B) wave of this primary correction.
The breakout of this up channel accelerated the downward movement of this currency pair – helping it break below the round support level 1.0800.USD/CAD is set to fall further to the next sell target at 1.0600 (forecast price for the completion of wave ②).
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