FXstreet.com (Barcelona) - The Dollar is falling against the Canadian after trading in a narrow range between 1.0950 and 1.0980 during the European morning. In the last two hours, USD/CAD has declined 60 pips to break down 1.0950 and trade close to intra-day lows around to 1.0920.
Currently the pair is trading around 1.0930/40, 0.25% above today's opening price action at 1.0911.
The ecpulse.com analyst team comments: The dollar versus loonie is trading within a very narrow range around 1.0970 since this morning, with overbought signs continuing to appear on the momentum indicators, which keeps our morning expectations intact, where we await the pair to move slightly to the downside, touching 1.0920 and then reversing to the upside, to continue the harmonic technical pattern, shown above. The upside direction expected for today, will prevail as far as 1.0830 remains intact.