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.

CAD= - Option 1 Micro - Jun-17 1224 PM (1 hour)
CAD= - Option 1 Micro - Jun-17 1224 PM (1 hour)
CAD= - Primary D - Jun-17 1226 PM (1 day)
CAD= - Primary D - Jun-17 1226 PM (1 day)
CAD= - Alternate D - Jun-17 1227 PM (1 day)
CAD= - Alternate D - Jun-17 1227 PM (1 day)
Arkady Yakhnis provides extensive coverage on precious metals, energy, and forex at ElliottWaveTrader.