Canadian Dollar Technical Outlook

The deep drop does not change the corrective nature of the decline from 1.0726.

As such, expectations are for a new high (above 1.0726) to complete the advance from .9974. Longer term objectives are at 1.08 (61.8% of the 1.1875-.9055 decline). While we can not confirm that a low is in place, we expect one to form soon.