Canadian Dollar Found Solid Support Floor

The pair found a solid support floor around the support level of the psychological barrier mentioned during the previous analysis at 1.2700, to start its daily trading with a slight upward slope.

Technically speaking, we tend to be positive in the coming hours, relying on trading stability above 1.2700 in addition to stochastic attempts to provide positive signals.

Therefore, we aim to re-test the 1.2775 level, bearing in mind that the move upwards has a catalyst that increases the possibility of touching 1.2830.

Note: the bullish slight inclination does not contradict the downside, and confirming a break of 1.2685 forces the pair to resume the current descending wave, before touching the targets at 1.2640 initially.

S1: 1.2710	R1: 1.2775
S2: 1.2665	R2: 1.2800
S3: 1.2640	R3: 1.2840