Canadian Dollar Technical Outlook

We know that the advance from .9974 is most likely the 3rd wave to complete the rally from .9055.

As such, the USDCAD is vulnerable to weakness from current levels, especially given the corrective nature of the rally from 1.0418-1.0561. Watch for Fibonacci support, especially from the 61.8% at 1.0261 (this is also former congestion).