USDCAD continues to fall after the earlier breakout of the round support level 1.30000 (which has been steadily reversing the pair from the end of August as can be seen below). The breakout of the support level 1.30000 continues the active minor impulse waves (iii) and 3 – both of which belong to the sharp downward impulse sequence (C) from the end of September. Given the clear multi-month downtrend and the rising bullish CAD sentiment seen across the FX markets today – USDCAD is likely to fall  further toward the next key support level 1.29200 (which stopped the previous minor impulse wave 1 at the start of November).