Canadian Dollar Technical Outlook

In last night’s Day Ahead, we wrote that “The rally to 1.0747 satisfies minimum expectations but there is no sign of a top.

A test of 1.0800/66 would present a chance to fade strength against former long term support at 1.0927.” The USDCAD got to 1.0775 before an abrupt reversal. A bearish bias is warranted against there.