Despite the oil climb to 77.00 dollars per barrel, the loonie is losing ground against the greenback. The pair has left the short movement started on October 2nd, trading at 1.0432. Remember that yesterday the pair hit the annual low at 1.0207, due to the oil rebound.The price is consolidating with the 200-day MA, but if it continues to climb it could find a resistance at the Fibonacci 38.20%, marked from 1.0956 to 1.0209. The RSI is clearly oversold, while the MACD shows buying signal.. We'll be looking for a correction down to 1.0320 in the next hours.
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