The pair is reverting the losses from the beginning of the session, after a pullback to the 1.0457 area, falling 110 pips, so far.

The crude rebound is the main reason behind the strength of the CAD. The bands of Bollinger show a volatility of 120 pips in the hour, while the 14 period RSI is clearly oversold.

If the trend stays to the downside, the nearest support is at 1.0441, while above the next resistance is at the 23.60% fibo, marked between 1.0743 and 1.0448.