Morning Report

The Dollar versus Loonie pair couldn't decline further yesterday, after reaching the 1.0965 level. However we still expect the pair to decline, confirmed by a four hour closing, below 1.0965 which is the neckline for a possible bearish pattern. The decline is valid as far as 1.1150 is 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

RecommendationBased on the charts and explanations above, our opinion is selling the pair with the breach of 1.0965 to 1.0825 and stop loss above 1.1060 might be appropriate.