CAD Mid-day Analysis

The crush of the Greenback continues even if the Canadian has forged a quasi-double bottom on the charts at 88.60. News that Canadian exporters are failing to benefit from the year long slide in theCanadian Dollar, suggests that even more declines in the Canadian are expected ahead. While it might be toomuch to wait for a sell of the Canadian on a return to down trend channel resistance up at 89.82 today, that downtrend channel resistance line falls to 89.32 by this Thursday.