Canadian Dollar: Attacks The Resistance

The Canadian dollar maintains its bullish corrective bias attempts, built on a support floor near the 1.2240/1.2230 level.

Technically, the Canadian starts attacking the previously broken support level, which is now turned to the 1.2330 resistance level, 50.0% Fibonacci correction. Coming from the 50-day moving average.

Therefore, the pair’s success in breaching 1.2330/1.2340 is a catalyst that enhances the chances of rising to visit 1.2375, and then 1.2410, 61.80% correction. Careful attention should be paid to the fact that the price stability above 1.2410 increases the strength of the bullish corrective bias with the aim of 1.2500.

S1: 1.2265	R1: 1.2340
S2: 1.2230	R2: 1.2375
S3: 1.2180	R3: 1.2420