We stated this last night but we tend to reiterate distinguishing facts from fiction. Yes, it's loonie that is looking weaker against almost all major pairs, the main driving force being falling crude prices.
Technical watch:
It seems USD taking a halt from its non-stop ruthless bull run against CAD which has started almost a month ago (on 18th June)? The pair has spiked up from the lows 1.2126 levels with minor hick-ups to reach 6 year's highs.
Even though daily charts send an early alert to bulls a matter of caution and alarms for bears to capture early downswings, intraday charts still pass on some sort of bullish momentum. We traced out at peaks of uptrend a Shooting star pattern candle occurred at 1.2967 levels.
RSI (14) evidences a divergence with the price spikes at 73.6815 levels which is considered as overbought zone, so we believe finally there was a sort of bearish sensation is seen on this pair. However, in a long-run uptrend still remains intact as weekly chart looks quite healthy for bulls.
We recommend on speculation basis buying one touch binary calls in order to extract leverage on extended profits. By employing these binary delta calls one can multiply returns by twice, thrice or even pour returns unimaginably. But do remember this strictly for speculative grounds.
