Morning Report

The Dollar versus Loonie pair continued to be pressured to the downside as it nears the pivotal support that has currently shifted to 1.0775. Yesterday's daily closing above this level keeps the short term trend to the upside where we expect the pair is to incline on the intraday basis to support the short term uptrend with targets at 1.1080. This incline is valid as far as 1.0775 is intact on the daily charts.

The trading range for today is among the key support at 1.0590 and the key resistance at 1.1100

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 buying the pair from 1.0775 to 1.0920 and stop loss below 1.0685 might be appropriate.