Today the Canadian trade balance will be printed at 14:30 CET. The market is speculating that the exports were larger than imports, which would prompt a new loonie rebound. The Canadian currency is now weakened by the crude trading lower.The pair is trading at 1.0536 Canadian dollars per US dollar. The bands of Bollinger show low volatility in the hour, while the RSI is still on a neutral zone.
The MACD could show buying signs in the next hour. If the trend doesn't revert, the next resistance is at 1.0576, while on the lower side, the nearest support is at 1.0500 Canadian dollars per US dollar.