After latest BoC statement I find this pair to be very interesting. After a 3 waves rise and a pullback into structure (overlapping wave) it now looks like the pair is likely to make a larger 5 waves rise on a journey from the Weekly- to the Monthly Tunnel (approx. at 0.8160). The Wavy Tunnel together with the AO indicator are fundamental in my Elliott Wave analysis as price tends to travel from tunnel to tunnel of various time frames. The main obstacle is it to overtake the 0.75272 high to follow up the latest Higher Low with a Higher High.
As you can see on the chart, I look at this whole move from the bottom as a correction even though we are talking about a 1500 pips move (if reaching target). This is due to the overlap between wave a (at 0.72027) and wave (b) (at 0.70898). This tells me that it's not a 5 waves move from the bottom, but a 3 waves one. As I expect the move from 0.70989 will be in 5 waves I have labeled it as (a)-(b)-(c) but it's quite possible it will turn out as a so called "complex" (w)-(x)-(y) wave, which at this stage simply is impossible to tell. So I have marked up this possibility as my Alt count in one single color.
To conclude if blue wave 4 has completed and we have begun blue wave 5, we have to go to a lower time frame. So at this point in time we wont get any further on this chart.