USDCAD and USDCHF – Elliott wave Analysis
USDCAD is falling, unfolding final leg as wave c of a bigger three-wave correction. Support for this correction can be around the 1.3204 level, level of a former swing high and 1.3218 area where Fibonacci ratio of 38.2 can also react as a turning point.
USDCAD, 1h
USDCHF is unraveling a rise in five waves, up from 0.9855 low which are characteristics of an impulse. We see price ending leg iii, meaning a temporary a-b-c correction may already be in play with possible support around the Fibonacci ratio of 38.2/50.0. A rally above 0.999 level would confirm wave v to be in play.
USDCHF, 30min
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