Morning Report

The dollar versus loonie achieved the bearish technical pattern's targets, previously show, inline with the positive bullish signs appearing on momentum indicators. Those facts make us expect the pair to attempt a series of bullish corrections that might reach 1.0575. However, for today we can expect an intraday upside move; where the four hour-closing needs to remain above 1.0340 to maintain its continuation.

The trading range for today is among the key support at 1.0210 and the key resistance at 1.0770.

The general trend is 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 buying the pair at 1.0400 and targeting 1.0530 and stop loss below 1.0340, might be appropriate