Now that Adam has left his beloved colonial shores to follow the sunshine south for the winter, Canadian productivity and GDP will halve. The loonie is starting to react by taking a sound footing above 1.0300, but it’s running into trouble by way of the 100 H4ma at 1.0339. The high so far has been officially 1.0341. Should it manage to take on such a sturdy foe, the next guard in the way will be the 100 dma at 1.0355.
USD/CAD daily chart 26 09 2013
There’s a fair bit of resistance from here to 1.0424 so the going could be tough. Here are my morning levels to get you up to speed.