CAD achieves the bullish goals 26/4/2023

As we expected, the Canadian dollar provided a noticeable rally during the previous trading session to touch the required bullish targets at 1.3590 & 1.3620, recording its highest level at 1.3647.

Technically, the bullish trend is still the most preferred, relying on building a good support floor around the previously breached resistance 1.3500, accompanied by the pair getting a positive impulse from the simple moving averages.

Therefore, we maintain our positive expectation, targeting 1.3680 as the first target, taking into consideration that its breach increases and accelerates the strength of the bullish daily trend, paving the way for the pair to visit 13725 and 1.3780 as a next station, as long as intraday trading is stable above 1.3560, and in general 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: 1.3560	R1: 1.3680
S2: 1.3480	R2: 1.3725
S3: 1.3440	R3: 1.3805