The loonie breached the awaited support level around 0.9740 that has currently turned into resistance to ascend around0.9750; therefore, the bearish scenario highlighted in our report yesterday has activated. Awaited targets for today start around 0.9600, while essentially stability below0.9800 to prevail.
The trading range for this week is among the key support at 0.9550 and the key resistance at 0.8400.
The short term trend is to the upside as far as 1.0665 remains intact with targets at 0.9000.
|Recommendation||Based on the charts and explanations above our opinion is selling the pair around 0.9740 targeting 0.9600 and stop loss above 0.9840, might be appropriate.|