I do expect this currency will be recovering some levels and remember we have GDP tomorrow morning and oil is recovering, but for tomorrow probably will be arriving the 79.0 level.
If this 80.0 level holds we can see a nice correction in this Loonie strength, ill be looking for a move to 77 or 78 so set a liberal stop loss and take a modest position if you're going to take this short that way you can actually stay in the trade.
Good Luck!
I fully expect the CXY to continue to rally. Long term I expect it to hit 90.
There is a possibility it could make a top around 79.6, decline a few points, and then continue its rally later.
But should it break 80 without any regard for the level, I believe a target of 90 is more than feasible, and may be reached in a quick fashion.
Should this momentum...
