USDCAD can be unfolding a bigger corrective wave 2, with its first two legs already completed; legs A) and B). We can see a recently completed running triangle correction within a leg B), that put wave C) into play, ideally towards the 1.285/1.280 region. At the mentioned zone, support and a bullish turn can be seen.
USDCAD, daily
On the lower degree time frame, we have a closer look of the price activity on the USDCAD, and its bearish impulse. We are tracking end of a third wave at the moment of a bigger wave C), so expect to see more downside after a fourth wave correction back to 1.3120 resistance.
USDCAD, 4h
