Technical analysis: Canadian Dollar shifts to flat side as market eyes drift

The Canadian Dollar (CAD) is mostly flat on Monday with the Loonie shedding around four-tenths a percent against the Pound Sterling (GBP) to kick off the trading week. The CAD is close to flat against the US Dollar (USD), trading within a tenth of a percent from Monday’s opening bids.

The USD/CAD pair is set to trade into a flat range for a third consecutive trading day. Bids are pushing into the middle and prices are hung up on rangebound figures between 1.3600 and 1.3550. The 1.3600 handle is the immediate near-term technical ceiling, and prices continue to trade on the high side of the 200-day Simple Moving Average (SMA) at 1.3477.