Analyst
Intraday: Bearish
Preference: Sell position is envisaged if price trades below 1.17571 with take profit at 1.17234
Alternative scenario: Buy position is envisaged if price trades above 1.17935 with take profit at 1.18407
No major economic data with bearing on the pair.
Comment: The Greenback is envisaged to trade higher due to the release of better than expected job data on Friday. The signing of four executive orders by the US president to push the latest stimulus package to the finishing line is expected to aid the dollar.
Intraday: Bullish
Preference: Buy position is envisaged if price trades above 1.34018 with take profit at 1.34411
Alternative scenario: Sell position is envisaged if price trades below 1.33592 with take profit at 1.33282
Fundamentals
No major economic data with bearing on the pair.
Comment: The pair is expected to trade higher today owing to the release of better than expected job data from the US on Friday. The Loonie is expected to trade lower as a major component of the economy (OIL) stalls around $44 with a key resistance obstructing a move to the upside.
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