USDCAD- Bearish

After the completion of a corrective rise in the first week of Jul'23 the currency pairs is forming lower lows and lower highs in an impulsive manner. We can count a five structure in the internals of each leg. Also we have a bullish outlook on AUDUSD then we must go short USDCAD as both the pairs are negatively correlated.

One should go short on current levels with SL of 1.33 and look for the target of 1.3000 and 1.2900 in the coming days.