Canadian Dollar Retsting Support

The Canadian dollar succeeded in retesting the strong support level published during the previous analysis, located at 1.2550, maintaining the positive stability above the aforementioned level.

Technically speaking, and by looking at the 240-minute chart, we find the stochastic indicator is trading around oversold areas, in addition to the emergence of positive crossover signs.

Therefore, we will maintain our positive outlook, targeting 1.2615 first targets, and then 1.2665 official stations. Only from below is the return of trading stability below 1.2550 and stability without delaying the bullish chances, but not eliminating it, and we are witnessing a bearish tendency targeting 1.2500 before rising again. In general, we will continue favoring the upside as long as trading is stable above 1.2500.

S1: 1.2550	R1: 1.2615
S2: 1.2500	R2: 1.2665
S3: 1.2480	R3: 1.2700