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Positive trading dominated the Canadian yesterday, targeting a re-test of 1.3220 resistance, posting a high of 1.3225.
Technically, and looking at the chart, we see that there are some negative signs on the stochastic, in conjunction with the RSI indicator losing its bullish momentum over the short time periods.
From here, we believe that there is a possibility to witness a bearish bias during the coming hours, with the first target of 1.3140 / 1.3130, bearing in mind that trading below the aforementioned level constitutes a negative pressure on the pair, so that 1.3075 will be the next leg.
A reminder that surpassing the upside resistance level 1.3230 negate the suggested scenario, and the pair will recover directly, heading for a re-test of 1.3330.
| S1: 1.3130 | R1: 1.3230 |
| S2: 1.3075 | R2: 1.3275 |
| S3: 1.3025 | R3: 1.3330 |
