Loonie's correlation with oil has been somewhat lesser this month. The pair didn't make new high as the commodity fell to the lowest level since 2003.
50 DMA has been capping the pair during the past two weeks while multiple failures at 1.40 suggest more downside in the days ahead. 100 DMA is the first stronger support ahead of 61.8% retracement of the October to January rally.
50 DMA has been capping the pair during the past two weeks while multiple failures at 1.40 suggest more downside in the days ahead. 100 DMA is the first stronger support ahead of 61.8% retracement of the October to January rally.
