USDCAD short term bullish

On the 30-minute chart of USDCAD we are able to count a clear five-wave impulse in the upward direction, followed by the natural corresponding retracement in wave (2)/B down. As the chart shows, the corrective decline seems to have found support at the 61.8% Fibonacci level, which is quite typical. We expect USDCAD to start rising from current levels. This count would be invalidated, if price falls below the start of the impulsive rally at 1.0811.

usdcad intraday 16.5.14.

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