The Canadian Dollar is Making Noticeable Gains

The Canadian dollar achieved strong gains during the previous trading session within the expected bullish context, touching the first target of 1.2565 and approaching by a few points at the official station 1.2600, to record its highest level at 1.2592.

Technically, with stable intraday trading above 1.2500 and in general above 1.2475, this supports the positivity, in addition to the positive stimulus coming from the 50-day moving average.

Therefore, we will keep our positive outlook, targeting 1.2590/1.2600, and then 1.2650 official stations, awaiting the bullish correction trend.

The return of trading stability again below 1.2475 delays the chances of rising, but does not cancel them, and we may witness a slight bearish slope that aims to retest 1.2410, 61.80% correction, before attempts to rise again.

S1: 1.2475	R1: 1.2590
S2: 1.2415	R2: 1.2645
S3: 1.2360	R3: 1.2705