Canadian Dollar Continue to Rise

Trading turned to the positive after the Canadian dollar managed to maintain the intraday trading level above the solid support floor located at 1.2600.

In terms of technical analysis, the album we tend to be positive, depending on the stability of trading above the aforementioned support, accompanied by the positive motivation of the 50-day moving average.

Consequently, we may witness a bullish bias, provided that the breach of 1.2710 is confirmed, to enhance the chances of a bullish move towards 1.2760 and then 1.2830, respectively.

Activating the bullish scenario requires stability above 1.2600/1.2585, and breaking the latter puts the price under strong negative pressure, targeting 1.2520.

S1: 1.2600	R1: 1.2710
S2: 1.2520	R2: 1.2760
S3: 1.2470	R3: 1.2830