USDCAD made a strong and sharp reaction recently, which we now see it as part of sub-wave v of 3. As such base for the past sub-wave iv was found at the 1.2800 level. All being said, current rally can now target 1.3071/1.3140 region, where various Fibonacci ratios of 100.0 and 161.8 project end of wave 3. At the same region bulls can slow down, and corrective wave 4 may start to show up.
USDCAD, 4H
