Technical Analysis for CAD

The pair moved to the upside but remained limited below 61.8% correction at 1.0315. Stability below the referred to level encourages us to suggest a downside move as long as the pair doesn't stabilize above 50% correction at 1.0370.

The trading range for today is between the key support at 1.0135 and the key resistance at 1.0370.

The general trend over short term basis is to the upside with steady daily closing above levels 1.0100 targeting 1.0775.

Support: 1.0300, 1.0270, 1.0235, 1.0215, 1.0200
Resistance: 1.0315, 1.0355, 1.0370, 1.0400, 1.0430

Recommendation Based on the charts and explanations above, our opinion is selling the pair below 1.0315 targeting 1.0270, 1.0235 then 1.0185 and stop-loss with four-hour closing above 1.0370 might be appropriate

IMOH, Clement I.
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