Analysis of the Canadian dollar pair

On the economic side

The Canadian dollar pair is trading on volatility today, Tuesday, as the pair has been trading inside a narrow range since the beginning of the week, especially after the strong pullbacks of the pair during last week's trading.

We are waiting for important data from the Canadian economy today, represented by Canadian inflation data and then the Canadian interest rate decision tomorrow, we are also waiting for monthly retail sales from the US economy tomorrow and then the speech of Jerome Powell, the US Federal Reserve Governor.

On the technical side

The Canadian dollar pair is trying to complete the bat harmonic pattern on the daily frame, which targets the levels of 1.3650 to 1.3580, which will be near the levels of the daily uptrend, from which it will be an excellent opportunity to start buying the pair towards the levels of the downtrend.

The second scenario is the pair's rise directly near the resistance levels of 1.4140 / 50, of which the pair will be for sale towards the completion of the bat harmonic pattern.