Canadian Dollar Continues The Bullish Correction

The technical outlook remains unchanged, and the pair’s moves have not changed little, maintaining the positive stability in attempts to complete the upward correction.

In terms of technical analysis today, the pair continues to get a positive stimulus from the 50-day moving average, in addition to holding above 1.2700.

Therefore, we will maintain our positive outlook targeting 1.2775 as a first target, knowing that the confirmation of the breach of the aforementioned level increases rapidly and confirms the strength of the upside correction to be 1.2830, the next leg.

Stability below 1.2675 negates the suggested scenario and puts the price under negative pressure, its target 1.2630.

S1: 1.2675	R1: 1.2775
S2: 1.2635	R2: 1.2830
S3: 1.2580	R3: 1.2870