Canadian Dollar: Struggling for a Bullish Correction

The Canadian dollar managed to retest the support level 1.2760, to start its daily trading positively again.

Technically, we find the pair maintains positive stability above the support floor of 1.2760 supported by the stochastic obtaining signs of a positive crossover, coinciding with the current attempts of the RSI to provide positive signals.

Thus, the bullish bias is likely today, targeting 1.2850, knowing that the rise and stability of the price above the aforementioned level is a catalyst that increases the chances of a bullish move towards the second bullish correction target of 1.2930.

From below, the return of trading to stability below 1.2710 negates the suggested bullish scenario and puts the price under negative pressure aiming to re-test 1.2660.

S1: 1.2775	R1: 1.2850
S2: 1.2745	R2: 1.2910
S3: 1.2700	R3: 1.2955