Canadian Dollar Rebound Raises Questions About Trend Strength

The Canadian dollar rebounded strongly last week after a four-week decline of over 3.6%, making it the largest weekly advance since mid-June.

This recovery still needs follow-through to confirm a more significant low is in place, and shift focus back toward trend continuation.

The yearly rising technical structure keeps the broader bullish outlook viable while above key support, but buyers still need to clear key resistance to strengthen this case.