CAD: caution is in order - BBH

The technical indicators for the Canadian dollar are suggesting that caution is in order, according to analysts at BBH. 

Key Quotes

“The RSI is still trending lower, but the MACDs have stopped falling, and a possible divergence is unfolding in the Slow Stochastics.  The US dollar fell to nearly CAD1.2280 last week.  The next important support area is seen around CAD1.2200, where the greenback found support last August.  On the upside, the US dollar needs to get above CAD1.2400 to stabilize the situation.”