The dollar versus loonie pair continued its push downwards, without the upside correction expected this morning; it was able to breach the minor support level at 1.0785, favoring continuing the downside move for today. From here, we expect the pairto continue the intraday downside move for the remainder of trading for today targeting initially 1.0715, to head far to levels 1.0300; as long as level 1.0915 remains intactthe downside move remains intact.
The trading range for today is among the key support at 1.0625 and the key resistance at 1.1320.
The general trend is to the downside as far as 1.1870 remains intact with targets at 1.0300.
|Recommendation||Based on the charts and explanations above our opinion is selling the pair from 1.0785 To 1.0655 and stop loss above 1.0870, might be appropriate|