It is time to turn bullish the USDCAD again.
The circled area on the chart is the advance from .9997, which is in 5 waves (view the rally on a 60 or 15 minute chart to view the rally in detail). This development is evidence that the drop to .9997 completed wave Y as a truncation. As such, a bullish bias is warranted against .9997. The minimum objective is above 1.0324.
STRATEGY: Bullish, against .9997, target above 1.0324