Loonie continues to trend up strongly and has broken to a new high in five out of six completed trading days this year. Yesterday, it reversed from the dip and proceeded to break July 2003 high, making it to the highs not seen for thirteen years.
76.4% retracement of the 2002 to 2007 decline is the next target, reinforced by the big figure level at 1.45 and backed by the March 2003 low (~1.4580). Pullbacks have been shallow but, in case of a deeper correction, area around 1.35 (September 2015 high) may be the first candidate for support.
76.4% retracement of the 2002 to 2007 decline is the next target, reinforced by the big figure level at 1.45 and backed by the March 2003 low (~1.4580). Pullbacks have been shallow but, in case of a deeper correction, area around 1.35 (September 2015 high) may be the first candidate for support.
