The dollar versus loonie achieved indulged in a minor upside correction since this morning, pressured from positive signs on Stochastic. We expect 50% correction at 1.0885 to hold against the pair's upside attempts, and for the pairto resumetheintraday downside moveexpected for today starting by breachingthe key support level at1.0785 and then heading towards the vital support level at 1.0715. Chances of achieving this downside move for today will prevail as far as 1.0935 remains 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.
|Recommendation||Based on the charts and explanations above our opinion is selling the pair with the breach of 1.0785 To 1.0655 and stop loss above 1.0885, might be appropriate|