Technical Analysis for CAD
The pair is trading above 23.6% correction levels of CD Leg of the bearish harmonic Bat Pattern. That doesn't mean the pattern's affect is over, as stability below 1.0355 levels keeps the possibility of a downside move valid during this week. The pair might retest around 1.0295 levels through the bullish move affected by the pair's need to get rid of some of the oversold signals shown on Stochastic.
The trading range for this week is between the key support at 1.0075 and the key resistance at 1.0355.
The general trend over short term basis is to the upside with steady daily closing above levels 0.9800 targeting 1.0485.
Support: 1.0205, 1.0165, 1.0140, 1.0100, 1.0075
Resistance: 1.0240, 1.0290, 1.0310, 1.0355, 1.0420
Recommendation Based on the charts and explanations above, our opinion is selling the pair below 1.0290 targeting 1.0215, 1.0140 then 1.0120 and stop-loss with four-hour closing above 1.0355 might be appropriate this week