Canadian Dollar Objective at 1.0733

The 5th of the 3rd wave from 1.1168 may need to consolidate and then make one more low before the anticipated wave 4 bounce occurs. The hourly chart shows that wave 3 (of 5 of 3) is extended and that a dip below 1.0825 would complete 5 down from 1.1061.

We should expect some consolidation under 1.0965 before yet another low before larger wave 4 occurs in a period of consolidation/pullback towards 1.1168. A measured objective for the end of the decline is at the 161.8% extension of 1.1168-1.0965/1.1061 at 1.0733.