Bigger picture, we are looking for a top (but probably after a push through 1.0726).
The recent advance was a break from a triangle. Triangles occur as the middle wave of 3 wave corrections. So, if we are correct in our labeling above, the USDCAD should form a top soon…1.08 is the 61.8% of the 1.1875-.9055 decline and a potential resistance area.
