CAD maintains the same technical conditions 25/4/2023

The technical outlook remains unchanged, and the pair’s movements did not change, trying to maintain positive stability, as we mentioned during the previous analysis.

Technically, the pair confirmed the breach of the resistance level of 1.3500, which turned into a support level according to the concept of role exchange, and we find the simple moving averages continue to provide a positive motive, praising the continuation of the rise in the coming hours.

Therefore, the bullish daily trend is the most preferable, targeting 1.3590 as the first target, and breaching it increases and accelerates the strength of the bullish trend, so that we are waiting to touch our next target at 1.3620, and it may extend later to visit 1.3660 as long as trading is stable above 1.3500.

Note: Stochastic is trying to get rid of the current negativity and is trying to gain additional momentum.

Note: Trading on CFDs involves risks. Therefore, all scenarios may be possible. This article is not a recommendation to buy or sell but rather an explanatory reading of the price movement on the chart.

S1: 1.3520	R1: 1.3590
S2: 1.3440	R2: 1.3620
S3: 1.3400	R3: 1.3680