Elliott wave Analysis: USDCAD At Interesing Reversal Zone

Hi traders,

USDCAD made a big recovery, but hit important 78,6% Fibo. level, which can act as a strong resistance, especially after that clear three-wave a-b-c rise. So, if we see a bearish reversal back below 1.3345 region, then bears are back in play, but only while price keeps trading below 1.3466 invalidation area.

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USDCAD, 1h

usdcad, intra.