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The Canadian dollar is trying to maintain its recent gains during last week’s trading, after it sought to establish a solid support floor around 1.2665, to witness intraday movements stability above 1.2700.
Technically, the return of the simple moving averages provides a positive motive and the clear positive crossover signs on the stochastic indicator.
With intraday trading remaining above the breached resistance level 1.2710 and in general, above 1.2665, the bullish bias may be the most likely to visit 1.2765, knowing that its breach contributes to strengthening the pair’s gains to be 1.2800, the next stop, and its targets may extend later towards 1.2850.
| S1: 1.2680 | R1: 1.2765 |
| S2: 1.2635 | R2: 1.2800 |
| S3: 1.2590 | R3: 1.2850 |
