Technical Analysis for CAD

Technical Analysis for CAD

The pair stabled around 50% correction at 1.0075 as negativity is still valid and is shown on Linear Regression Indicators affected by the bearish harmonic Bat Pattern. The downside push was halted by oversold signals on the pair as shown on Stochastic. Trading below 1.0140 keeps the negativity of the pair.

The trading range for today is between the key support at 0.9925 and the key resistance at 1.0185.

The general trend over short term basis is to the upside with steady daily closing above levels 0.9800 targeting 1.0485.

Support: 1.0030, 1.0015, 1.0005, 0.9980, 0.9965
Resistance: 1.0100, 1.0140, 1.0185, 1.0200, 1.0215

Recommendation Based on the charts and explanations above, our opinion is selling the pair around 1.0075 targeting 1.0015, 0.9980 then 0.9925 and stop-loss with four-hour closing above 1.0140 might be appropriate