Apparently the Canadian Dollar has become short term overbought or perhaps theretrenchment in energy and gold prices has fostered some long profit taking selling to start the new trading week.With the prospect of ongoing weakness in the US Dollar, the Canadian should be cushioned against a noted correction ahead. However, those that are long probably need to monitor US data, as positive US figures andshort covering in the Greenback might force the September Canadian down to up-trend channel support at 93.25.
