Technical Analysis for CAD
The pair is trading in a narrow range from a week but is still limited from the upside below Potential Reversal Zone of the bearish harmonic Bat Pattern. Stability below 1.0355 levels keeps the possibility of a downside move of the harmonic pattern valid, especially that the pair is stable below Linear Regression Indicators.
The trading range for today is between the key support at 1.0140 and the key resistance at 1.0445.
The general trend over short term basis is to the upside with steady daily closing above levels 0.9800 targeting 1.0485.
Support: 1.0260, 1.0215, 1.0200, 1.0185, 1.0140
Resistance: 1.0290, 1.0310, 1.0355, 1.0385, 1.0420
Recommendation Based on the charts and explanations above, our opinion is selling the pair below 1.0310 targeting 1.0260, 1.0205 then 1.0185 and stop-loss with four-hour closing above 1.0355 might be appropriate