USDCAD is recovering after five waves of decline, labeled as wave C), so more gains could follow if we consider that the contra-trend move from the end of May can be near completion. For now, rally is not in five waves yet, but the recovery and daily close above 1.2400 would definitely be bullish for this pair.
USDCAD 1h Elliott Wave Analysis
On USDCHF we see a three wave set-back that may have ended now after the recent rally through wave (iv) swing high which opens the door for higher levels. Ideally the market will revisit 0.9500 in the sessions ahead.
USDCHF 1h Elliott Wave Analysis
