Technical Analysis for CAD
The pair broke 23.6% correction towards the first target of the bearish harmonic Bat Pattern. Therefore, we hold on to our negative expectations as RSI and Stochastic are trading in a downside move below line 50.
The trading range for today is between the key support at 1.0450 and the key resistance at 1.0640.
The general trend over short term basis is to the upside with steady daily closing above levels 1.0100 targeting 1.0775.
Support: 1.0470, 1.0450, 1.0420, 1.0400, 1.0385
Resistance: 1.0500, 1.0530, 1.0565, 1.0585, 1.0610
Recommendation Our expectations remain valid and possible to short the pair again below 1.0495 in line with the previous recommendation