CAD is on a Narrow Path And Maintains Positive Stability

The Canadian dollar did not show any movement during the previous trading session and continues to maintain trading above the 1.2500 support level.

Technically, the pair maintains stability above the pivotal support floor 1.2500, 38.20% Fibonacci correction, accompanied by stochastic attempts to gain additional momentum. Therefore, we will keep our positive expectations, targeting 1.2550 first target, knowing that its breach is a catalyst that increases the possibility of touching 1.2590/1.2600, a next station that may extend its targets later towards 1.2630.

Confirmation of breaking 1.2500/1.2490 will immediately stop any attempts to rise and put the pair under negative pressure, targeting a retest of 1.2410, 50.0% correction before attempts to rise again.

Note: The level of risk may be high.

S1: 1.2490	R1: 1.2550
S2: 1.2430	R2: 1.2590
S3: 1.2380	R3: 1.3630