Canadian Dollar Technical Outlook

The extent of the rally from 1.0782 almost assures that the entire decline from 1.3068 is complete. Additionally, the rally from 1.0782 has unfolded as an impulse. I am not sure if the rally from 1.0782 is complete. A thrust higher from a running triangle is possible before a corrective decline. It is best to wait for clarity here before taking a strong stand.