it is obvious that CAD closely tracks oil performance on the market, and since yesterday oil started retreating from it's recent highs. Since US markets close lower yesterday, Asian and European markets followed, and commoditie currencies (AUD,CAD,NZD) tracked lower. Currently CHF stands the most chances to gain from technical perspective. CHF gains could be attributed to profit taking on long position of CAD/CHF, or simply flight to safety of CHF. On a weekly, and monthly chart resistance of 1.0700 is clearly visible, so some profit taking action is expected at this level. RSI divergence is supportive technical indicator for a trade. CAD strength is evident in recent months across the board, so extra caution is advised. Currently oil is the strongest indicator for the pair movement. Stops should be placed above recent highs. 1.0735 and targets should start at 1.0600 and bellow.
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