Previously, we wrote how USD/CAD may soon begin a resumption of the downtrend. The corrective phase higher appears to be extending for the time being. The wave from the October 31 high to the November 10 low appears to be a three wave zigzag pattern. This shifts the odds that any weakness may prove to be temporary. We still think the blue trend line will break, as the move higher is not carving in motive fashion. As a result, I suspect we are in a larger ‘b’ wave, which is a sucker’s wave.