Canadian Dollar Technical Analysis: Rebounding Oil Fuels Loonie Rally – Setups for CAD/JPY, USD/CAD
Strength in CAD-crosses the past few days remains technically inconsequential.
Source: dailyfx.com
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Strength in CAD-crosses the past few days remains technically inconsequential.
Weakness in CAD-crosses is setting in as energy prices struggle to continue their rebound.
There are early technical indications that the Canadian Dollar sell-off has been exhausted.
A hawkish Bank of Canada this week could be the catalyst needed to spark a turnaround in the CAD-crosses.
Recent price action in CAD-crosses speaks to near-term exhaustion by the Loonie, which may harken some profit taking before the rally resumes.