CAD achieves the goal and confirms breaking the support 9/9/2022

The British pound managed to rise published during the previous analysis, surpassing the official target required to be touched yesterday at the price of 1.1560. It is now hovering around its highest level during today’s morning trading session at 1.1595.

Technically, we tend in our trading to the positive, depending on the stability of the RSI above the mid-line 50 on the 60-minute time frame, in addition to the intraday stability above 1.1530.

Therefore, the continuation of the ascent is the most likely scenario today, targeting 1.1640/1.1620, a first target, and breaking it increases the strength of the bullish bias, opening the door for the pair to visit 1.1680.

The return of trading stability below 1.1510 may put the price under negative pressure to retest the strong support floor 1.1410 before determining the next price destination.

Note: Stochastic is around overbought areas.

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: 1.2980	R1: 1.3120
S2: 1.2935	R2: 1.3210
S3: 1.2850	R3: 1.3255