The dollar versus loonie's bullish wave is organized within the ascending channel, shown above, where this channel makes us expect more possible bullish direction for today; targeting 1.0780 then 1.0870. The stochastic is close to showing a positive crossover that supports these expectations that essentially require 1.0550 to remain intact as the four-hour closing above it.
The trading range for today is among the key support at 1.0455 and the key resistance at 1.0745.
The general trend is to the downside as far as 1.1870 remains intact with targets at 1.0000.
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More Technical Analysis For The Pair
|Recommendation||Based on the charts and explanations above our opinion is buying the pair from 1.0605 targeting 1.0690 and stop loss below 1.0550, might be appropriate.|