USDCAD: reaction to the major support
USDCAD: the key resistance - 1.2345 - is taken out and this is clear indication of a meaningful low. Two counts presented on the daily charts present possible scenarios; right now I consider these options as equiprobable. Completion of the current impulsive-looking rally and following pullback are supposed to set up the next move up - then we will hopefully be able to pick out the best scenario.
1.245 - 1.248 region is possible target for initial impulse off the low.