After touching areas around the 1.0025; Loonie fell to reach the first targeted area we mentioned yesterday at 0.9950 before rebounding again this morning. The pair is fluctuating around the 50-days SMA, meanwhile Momentum indicators has turned neutral. Therefore, we prefer to stay aside today.
The trading range for the week is expected among the key support at 0.9850 resistance at 1.0150.
The short term trend is to the upside targeting 1.0650 with steady weekly closing above 0.9880.
|Recommendation||Based on the charts and explanations above, we recommend staying aside awaiting further confirmations|