CAD maintains positive stability 17/6/2022

Positive attempts by the Canadian dollar to maintain positive stability after it built a strong support level at 1.2885 within a gradual ascent to the upside.

Technically, we tend to the positivity, relying on the positive motive coming from the 50-day simple moving average, which continues to hold the price from below, in addition to the 14-day momentum indicator’s attempts to obtain positive signals on the short time frames.

The possibility of a rise is more likely, targeting 1.3000 and 1.3040, respectively, as long as the price is stable above 1.2885.

Below 1.2885 increases the possibility of a retest of 1.2820 before attempts to rise again.

S1: 1.2885	R1: 1.3000
S2: 1.2820	R2: 1.3040
S3: 1.2775	R3: 1.3110