I think the correction of USDCAD is over, the next target is 1.32 which will correspond to another wave 5 of just another upper degree. Overall I think CAD is not reversing alone, we also observe the reversal of EURUSD (still need confirmation!) and also a suspiciously nice downward impulse has just happened in Crude which may ignite the next downwave. Looks like a season of big movements is just starting!