Canadian Dollar Continue to Rise

The Canadian dollar is continuing its positive trading within the expected bullish path after it successfully retested the support level of 1.2640.

Technically speaking, we will maintain our positive outlook based on trading stability above the 50-day moving average, which is accompanied by the clear positive signs on the stochastic indicator.

The next first target is located around 1.2720 / 1.2730, knowing that the breach of it is a catalyst, enhancing the chances of the upside to visit the official target 1.2790.

A reminder that the bullish scenario requires stability above the support level of 1.2630.

S1: 1.2630	R1: 1.3735
S2: 1.2580	R2: 1.3790
S3: 1.2535	R3: 1.2835