USD/CAD is about 70 pips from the 1.2394 high of the day but it remains the largest one-day rally in the pair since 2011.
The Bank of Canada decision was a shocker and there is very little technical resistance in the pair. The rule of thumb with a parabolic chart is to try and hang on for dear life. We saw it last year in USD/RUB and although this chart doesn’t have anywhere near the kind of potential as that one, it’s not too soon to talk about 1.30.
Canadian dollar Jan 21 2015
