The loonie is rapidly declining after the oil's pull back. The pair is now trading at 1.0719 Canadian dollars per US dollar. After hitting a daily low at 1.0588, the pair rebounded 155 pips. The bands of Bollinger show a volatility of 180 pips in the hour, while the 14 period RSI is clearly overbought. The Stochastic shows buying signs right now. If the trend sticks to the upside, the next resistance is at 1.0745, while the support is found at 1.0648 Canadian dollars per US dollar.

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