Canadian Dollar; Double Bottom in Place

Has CAD made a double bottom at the 1.1000 level? V shaped bounces are rare, so the currency pair could easily retest the level once again, but 1.1000 now becomes strong support and the near term bias appears to be up.

A break of that level to the downside however, will cause massive technical damage and could take pair all the way to 1.07000 before stabilizing