Canadian Dollar Technical Outlook


We maintain a bearish bias against 1.0197. It is possible that a top is in at .9981 but a push through there would expose the 61.8% and 78.6% Fibo levels at 1.0011 and 1.0093 and not negate the larger bearish count. Preferably though, the price drop accelerates now and the USDCAD comes under .9710 while .9981 remains intact.

[B]STRATEGY[/B]: Bearish, against 1.0197, target TBD