Canadian Dollar Continues to Crawl Negatively

The negative moves dominated the currency pair, as we expected yesterday, to touch the second target to be achieved at 1.2945, posting a low of 1.2928.

Technically, looking at the 60-minute chart, we find limited positive attempts from the RSI, on the other hand, we find the stochastic is still providing negative crossover signals.

The bearish tendency will be valid, bearing in mind that trading below 1.2970 facilitates the mission required to visit 1.2930, and breaking it will accelerate and confirm the strength of the daily bearish trend, to open the way directly towards 1.2865 as a primary target.

Trading above the broken support converted to 1.3065 resistance delays the chances of a reversal but does not negate it, and we may witness limited positive attempts targeting a re-test of 1.3120 before resuming the decline again.

S1: 1.2930	R1: 1.3065
S2: 1.2865	R2: 1.3125
S3: 1.2805	R3: 1.3190