Readers of the June 22 Klarenbach Report remember how I anticipated a retrace from the purple VWAP at the 1.124090 level to the yellow trendline.
We got that retrace last week.
I am not certain if the retrace is over and would not surprised if the blue VWAP from the low gets tested before resuming higher.
Since March 2020, the CAD has been strong relative to the USD.
I think that trend is reversing.
The Daily chart below is a close-up look that this past week’s price action.