Expected Strength for the Canadian Dollar in the Short and Medium Term

The Canadian Dollar Index continued its decline,

 reaching the demand zones on the daily frame.

The index also reached the overlapping demand zones on the hourly frame.

It broke the downtrend, with positive divergence on the MACD indicator.

This is a strong indication of an expected upcoming rise in the index.

If the current resistance level at 1.4849 is breached and a close above it is reached, 

a rise to 1.4890 and 1.4930 is expected.

This indicates strength for the Canadian Dollar against 

most currencies, even if it is already rising.

The analysis fails if the index continues to decline directly from current prices.