Canadian Dollar Technical Outlook

“The trend remains up as long as price is above 1.1976. Staying above there keeps open the possibility that a wave 4 low is in place within the 5 wave advance from .9055.” The minimum objective is above 1.2510. The bullish bias is in serious jeopardy as the USDCAD tests 1.2000 now. A drop below 1.1976 shifts focus to the 200 day SMA, at 1.1840.