The Canadian Unchanged

The technical outlook is unchanged, and the movements of the Canadian dollar did not change significantly, trying to maintain the bullish corrective path, stable intraday above 1.2400, and in general above 1.2370, the 61.80% Fibonacci correction as shown on the chart.

Technically, the stochastic is trading with negativity, and the stability of the intraday trading is below the resistance level of 1.2480, represented by the 50.0% Fibonacci correction.

Therefore, we may witness a bearish tendency during today’s session, targeting a retest of 1.2400 before rising again. However, rising above 1.2480, 50.0% correction, will immediately stop the suggested bearish intraday scenario and lead the pair to complete the bullish correction path so that we will be waiting for 1.2530 and 1.2570 initial targets.

S1: 1.2400	R1: 1.2495
S2: 1.2370	R2: 1.2530
S3: 1.2300	R3: 1.2585