Currency rate moved down so powerfully, because OIL moved up. You need to know that there are correlation (-93%) between Canadian dollar and OIL prices. That's why I think Canadian dollar will become stronger.
Also, technically price showed that exchange rate will move down to key level 1.2730 (2nd wave).
I will open a Short after pullback up, or when the price will break down 1.2885.
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I'll write when to open a Short, if this idea get 45 like.