USDCAD has formed a Rising Wedge on its daily chart. The price is trading below the EL: 1.35629 and below the Pivot5 Rising Wedge Floor. The price on the Wed 4rd '23 has formed a (MSH) Market structure Hight taking the previous lows signaling a Short outcome for the pair. Also the price on the Friday 6th Jan '23 session has supported the idea taking new lows.
Target1: 62%: 1.30121 79%: 1.29525
Target2: 127%: 1.27895 162%: 1.26685
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After 2 Days of consolidation the price broke lower
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UC finds resistances 1.34336
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USDCAD Rejected the 1.34336 resistance. the price should have next stop 100%: 1.32259
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