Morning Report

The Dollar versus Loonie pair inclined to reach the 10.670 level where it is currently trading around it as the pair lost the bullish momentum it acquired resulting in the stochastic indicator to give signs of a possible bearish crossover that supports our outlook to the downside on the intraday basis after reversing from the 1.0670 level to target 1.0500 initially and extend declines towards 1.0000. This decline remains as far as 1.0900 is intact.

The trading range for today is among the key support at 1.0425 and the key resistance at 1.0900

The general trend is to the downside as far as 1.1870 remains intact with targets at 1.0300

RecommendationBased on the charts and explanations above, our opinion is selling the pair from 1.0670 to 1.0565 and stop loss above 1.0715 might be appropriate.