Loonie completed two consecutive bullish days, where price pushed back above 0.9900. The recent false breakout to the downside followed by two days rally hints we may see a continuation of the bullish action, where RSI and Stochastic are also providing a bullish divergence.
The trading range for the day is expectedamong the key support at 0.9900 and the key resistance at 1.0150.
The short term trend is to the upside targeting 1.0650 with steady daily closing above 0.9900.
|Recommendation||Based on the charts and explanations above we recommend, buying the pair around 0.9910 targeting 1.0000 and 1.0050. Stop loss below 0.9840.|