The Canadian dollar traded higher against most major opponents in early European deals on Wednesday.

The loonie bounced off to 83.06 against the yen, reversing from a low of 82.11 hit at 11:30 pm ET.

The loonie rose to 1.3844 against the greenback and 1.5579 against the euro, from its early low of 1.3921 and near 3-week low of 1.5726, respectively.

If the loonie extends rise, it may challenge resistance around 84.00 against the yen, 1.37 against the greenback and 1.55 against the euro.

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