With crude above 75.00 dollars, the loonie is still climbing against the greenback. The pair is now trading at 1.0290. Checking the chart with a three months period and one hour candles, we can see how the pair started a short movement on October 2nd, offering us a fabulous downwards move of 752 pips.In the short term, the pair could decline to 1.000, creating a parity (traders key target). However, the BoC left clear that it will put a brake on the loonie's advances if it keeps on climbing.
Checking the two years chart with weekly candles, the price hasn't broke the inferior band of Bollinger, while the RSI is at 32 points, oversold. According to the Commodity Channel Index, the pair is giving signs of selling, but it still has room to decline a bit more.