USDCAD currency pair under the bearish pressure after the price broke the support zone lying between the pivotal support level 1.24160 (which has been reversing the pair from the start of July as can be seen from the daily USDCAD chart below) and the 50% Fibonacci correction of the upward impulse from June. The breakout of this support zone accelerated the active intermediate impulse wave (C) from September. Given the strong Canadian dollar bullishness seen across the FX markets today – USDCAD currency pair can be expected to fall further toward the next support level 1.23000 (target for the completion of the active intermediate impulse wave (C)).