The Canadian dollar has been difficult for a number of months, with the end of February not showing us anything different. The loonie extended its uptrend to a high of 0.80196 before pulling back to close at 0.78481. This was just slightly above the January settlement of 0.78261, with monthly stochastics holding above the overbought level of 80%. The most recent bearish crossover above this mark occurred at the end of January 2021, in conjunction with what looked to be a bearish spike reversal at the time. That was until the Canadian dollar moved to a new high this past month. While I’m still looking for the loonie to break down, initial support is at the previous 4-month low of 0.74790.