Canadian Dollar 1.0442 Key for Bears (USDCAD Bulls)

[B]Commentary[/B]: The reversal that we have been expecting may be underway but we would like to see a clear 5 wave advance to signal the turn and instill confidence in the upside. Coming under 1.0442 could see a test of the long term support line, near 1.0393.

We are showing the weekly chart with the wave count to illustrate why the USDCAD is close to putting in a significant low.

[B]Strategy[/B]: Flat