The U.S. dollar/Canadian dollar (USD/CAD) currency pair made a sharp fall recently, away from the 1.2431 level, which gives us an idea that maybe sub-wave 3 of 5) is forming. Usually, the strongest and steepest wave is wave three, so maybe the price is now trading in the middle of final Wave 5). Once sub-wave 3 fully unfolds, a new three-wave temporary correction into the following Wave 4 may show up. That being said, the whole bearish impulse may search for a low near the Fibonacci ratio of 261.8.
The U.S. dollar/Swiss franc (USD/CHF) currency pair made a new low today, which can be an indication that a complex correction within Wave 4) is completed. We changed our count prior to this drop and now see a completed triangle pattern. Ideally, current weakness is now a confirmation that final Wave 5) is in progress and can reach levels near the Fibonacci ratio of 161.8 in days ahead.