The dollar versus loonie pushed to the upside to touch pivotal resistance - previously breached level - at 1.360, due to pressure from positive signs appearing on momentum indicators, where we currently witness that the pair could have lost this bullish momentum, as it supports yesterday's expectations. Meanwhile, we see that the expected direction for today is bearish; targeting 1.0200 then 1.0000, keeping in mind that for the bearish short term wave to continue requires 1.0450 to remain intact.
The trading range for today is among the key support at 1.0000 and the key resistance at 1.0450.
The general trend is to the downside as far as 1.1870 remains intact with targets at 1.0000.
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|Recommendation||Based on the charts and explanations above our opinion is selling the pair from 1.0360 targeting 1.0260 and stop loss above 1.0425, might be appropriate.|