Canadian Dollar Continues to Extend Losses

The Canadian dollar managed to achieve the expected negative outlook for the daily trend, to touch the first target mentioned in the previous analysis at 1.3090.

Technically, with the confirmation of the pair breaking the 1.3150 support floor, in addition to the continuing pressure coming from the 50-day moving average. This encourages us to maintain negative expectations towards 1.3050 / 1.3060, bearing in mind that confirming the recent break will facilitate the mission required to visit 1.3010.

Rising again above 1.3165 negates the bearish scenario and pushes the pair towards testing 1.3230.

Warning: There is important data in Canada today that may affect the pair’s movements.

S1: 1.3050	R1: 1.3165
S2: 1.3010	R2: 1.3245
S3: 1.2935	R3: 1.3280