A larger USDCAD decline is underway. Fibonacci support begins at 1.1359, which price is closing in on, and extends all the way to 1.0400. In other words, there is significant bearish potential. Near term, 5 waves down from 1.2510 may be near completion. As such, there is risk of at least a correction. Continued divergence with RSI warns of a sharp pullback.
