The drop below 1.0543 does not change the corrective nature of the decline from 1.0726.
All the moves are in 3 waves - therefore the USDCAD is most likely bottoming very soon in a complex 4th wave. As such, expectations are for a new high (above 1.0726) to complete the advance from .9974. Longer term objectives are at 1.08 (61.8% of the 1.1875-.9055 decline). Look for a top and reversal near there.
