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Elliott Wave Analysis: Intraday Correction On USD/CAD Points Lower

Elliott Wave Analysis: Intraday Correction On USD/CAD Points Lower

Intraday price action for USD/CAD is slow at the moment, which is normally ahead of BOC Rate Statement. Technically speaking, we see pair in clear bearish mode, currently making a corrective rally within wave four that is expected to find resistance near 1.3330 in the very near-term from where market may continue lower into wave five of C/3, to around 1.3180/1.3200.

USD/CAD, 1h

USD/CAD 1 Hour Chart

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