Canadian Dollar Technical Outlook

The 61.8% of the rally from .9055 to 1.3068 is at 1.0588 and is potential support. The speed of the decline from 1.1820 and the RSI extreme make it likely that the decline is a 3rd wave. As such, favor some consolidation this week before a drop to a new low to complete wave v of C. 1.0950 is resistance.