USD/CAD is still trading quite aggressively lower after price made a sharp reversal to the downside from 1.468 area, where price completed a higher degree bullish structure. That said, price of USD/CAD is likely going even lower as decline from 1.4680 has unfolded in five waves, labeled as wave A/I; first wave of a minimum big three waves of a decline. However, nothing moves in straight lines so we need to be aware of a corrective bounce up in wave B/II which is now already underway with still some room left towards 1.3700 area since we expect a bigger corrective three wave recovery.
USD/CAD, Daily
