USDCAD is back at new highs of 2015 which has been expected for sometime, after we identified a flat correction in wave 4). We see price now in wave 5), which is a final leg of an impulsive rally since June. However, bullish momentum is very strong, while the price action is accelerating so bulls can stay here for 1.4200. Only break beneath 1.3440 and broken channel support line would indicate an important bearish turn.
USDCAD, Daily
USDCAD, Daily
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