Midday Report

The dollar versus loonie rushed to the upside, touching 1.0900, where it's facing downside pressures from separated resistance levels (the minor channel's resistance and 50% Fibonacci correction), including the clear overbought signs on Stochastic. From here, our morning expectations remain as is, where we await the start of the downside direction expected for today, where themain target is presented in the confirmed breach for 1.0715 then openingthe way towards 1.0600 and then 1.0300. Chances of achieving the expected downside remain valid as far as 1.0960 is intact.

The trading range for today is among the key support at 1.0565 and the key resistance at 1.1100.

The general trend is to the downside as far as 1.1870 remains intact with targets at 1.0300.

RecommendationOur morning expectation remains valid