USDCAD Trading Levels within Bearish Channel

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USDCAD tanked on BoC. Very short term focus is on where the decline from 6/26 would consist of 2 equal legs at 1.3422. Proposed resistance now is the high volume level from 7/9 at 1.3567. Pattern wise, there are several ways to interpret action since the June low. The rally into 6/26 is in 3 waves but the decline from that level could end up as a 3 wave drop as well within a larger corrective process. Even so, as long as price is within the bearish channel from the March high, the downside is favored.

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