I have been following the USDCAD using the weekly chart and Ichimoku. I did not post last week and wanted to show a daily view this week. Price seems to be defined by the Yearly PP and 200sma during the correction of the impulse down move. The retrace has not even reached the 38% retrace level and important structural level. However, to achieve this the Yearly PP will have to be broken. So in the week to come we will be looking for a retest of the Yearly PP. Volume has shown an increase of the high and low peaks and seems as that there could be some momentum developing.
