The USDCAD has had a great fall. However the fall is currently unsustainable so that lends itself to a correction. We are headed to the 240 previous resistance at 1.1167 and the confluence of the 0.618 for the former leg up and a lower target of 1.1110 area. Once we get into this area we might see a significant bounce back to the 1.1343 area (Former S5).
