Canadian Dollar Destroying US Counterpart

Commentary: The USDCAD has broken down…again. The next objective now is .9616, which is the 161.8% extension of .9820-.9721/.9776. A decline to there would possibly complete wave 3 within the 5 wave bear cycle from .9820.

Consolidation in wave 4 followed by yet another bear leg would then be expected.
Strategy: Flat

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