Attached is a 30 day chart of December Canadian Dollar.
Our current long bias remains in tact having missed our stop out level by 2 ticks on yesterdays close.
We will maintain our long bias with a stop out level below 101.40 on a closing basis.
On a trade above 101.78 we will increase our longs today.
The fundamental argument for Canadian Dollar has several different layers. China's strong numbers may have a positive effect on commodities and commodity currencies. Market may be looking for acceptable safe havens as Japan approaches an important election that will have enormous impact on the yen.
Have a great day,