The Canadian was obviously oversold into the Friday low but it is clear that the C$ has become the whipping post currency, off the constant flow toward the US Dollar. With the Chinese economy weak,many physical commodities (mostly oil) under pressure, we have to leave the edge with the bear camp in theCanadian. Therefore we can’t rule out at least a temporary probe back below 88.00, but a decline to 87.87 to87.69 might ultimately become a triple bottom low formation.
