USDCAD turned nicely higher last week and it broke above 1.3075 swing high of a former wave (iv) which confirms a bullish price action in progress. Based on latest moves we see first five waves up in progress. It can be wave 1 which means that corrective pullback down in wave 2 can be seen this week. Ideally pair will retest 1.3040 support from where trend may continue sharply to the upside.
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