Weaker oil, hawkish US Fed commentary and weak charts leaves the bear camp in the Canadian with an edge to start the new trading week. Weaker IMF growth forecasts are another element weighing on the Canadian. However, until the global macro-economic vibe shifts away from the deflationary spiral view and back toward something more positive, it could be difficult to arrest the erosion in the Canadian Dollar. Down-trend channel resistance is seen at 84.41 and that resistance falls down to 84.25 on Wednesday.
