Morning Report

Trading for the Dollar versus Loonie pair remained below the critical support at 1.0575 (61.8% correction) near 1.0500. The bullish signs appearing on the stochastic indicator are pressuring the pair to the upside to retest the previously breached support at 1.0575, before reversing back to the downside on the short term. The general trend remains to the downside targeting 1.0400 and 1.0000 respectively as far as 1.0705 remains intact.

The trading range for today is among the key support at 1.0305 and the key resistance at 1.0820

The general trend remains to the downside as far as 1.1870 remains intact with targets at 1.0000

RecommendationBased on the charts and explanations above, our opinion is selling the pair from 1.0575 to 1.0460 and stop loss above 1.0650 might be appropriate.