CAD currency is under pressure after seen the price of USDCAD targeted my prediction at 1.36700 on Monday 31st December earning +0.14% and the price can go further for TP 1.36800 before to come down aggressively.
USDCAD has reached the upper bound of the parallel channel, also, the oscillator has become overbought.
The median line of Andrews pitchfork might be another obstacle which is preventing the USDCAD from moving higher. The US president Donald Trump said that on twitter recently (on December 30) he had a long and very good chat with Chinese president Xi Jinping and that a possible trade deal between United States and China was progressing well. These are good news for Brent Crude Oil/WTI Crude Oil and DJI and help them move upward, and these probably create demand for Canadian Dollar.