Morning Report

The dollar versus loonie continues it's trading within the bearish channel, seen above, while momentum indicators continue moving within oversold areas. We still expect more bearish moves over intraday basisinitially targeting areasaround 1.0000. The intraday downside direction will prevail if the four-hour closings remainbelow 1.0265; meanwhile, the short term downside direction will prevail if trading remains below the main resistance at 1.0600.

The trading range for today is among the key support at 1.0000 and the key resistance at 1.0500.

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

Support1.01751.00901.00000.99600.9925
Resistance1.02651.03301.04001.04751.0500
RecommendationBased on the charts and explanations above our opinion is selling the pair at 1.0265 and targeting 1.0175 and stop loss above 1.0330, might be appropriate