The Canadian dollar tanked as easing inflation may keep the BoC at bay. A break above the supply zone 1.3470-1.3510 has helped the bulls regain control of the direction. A series of higher highs is a sign of mounting buying pressure and so far buyers have seen pullbacks as opportunities to stake in. 1.3440 is a fresh support and 1.3360 is an important level to keep the upward bias intact. Some resistance could be felt near the previously failed support at 1.3560 before the rally could extend to the daily resistance of 1.3660.
