FXstreet.com (Barcelona) - The Dollar, which fell on Friday to 1.0715 low following better than expected U.S. housing data, has picked up on Monday's Asian trade reaching levels several pips shy of Sept 10 high at 1.0880.

According to the ecPulse.com analysis team, the pair might be forming a technical pattern, supported by bullish signals: The Dollar versus Loonie pair couldn't extend gains past the 1.0715 key support resulting in a rebound to the upside, as it may be forming the second top; seen last Thursday around 1.0880, making us believe a bearish technical pattern is under construction supported by bullish signs appearing on stochastic.

On a bigger timeframe, the Dollar remains on the downside, as long as 1.0960 remains intact, says the ecPulse.com analysis team: The bigger picture supports the decline on the short term, which requires a successful breach on the four hour charts of the above mentioned key support. The decline remains as far as 1.0960 is intact.