Canadian Dollar Looking For Affirmations

The technical outlook remains unchanged, and the pair’s movements have not changed little in attempts to obtain a positive signal.

Technically, and by looking at the 60-minute chart, we find the 50-day moving average is trying to push the price to the upside in conjunction with the RSI gaining an intraday bullish momentum.

Therefore, we may witness attempts to breach 1.3175 in the coming hours, which enhances the chances of a rally towards 1.3205, the first target, and then 1.3240, respectively.

If pair fails to breach the aforementioned resistance and returns to trading and stabilizing below 1.3110, this puts the price under negative pressure to continue the downside path with a first official target of 1.3050 and later extends towards 1.3010.

S1: 1.3110	R1: 1.3205
S2: 1.3045	R2: 1.3240
S3: 1.3010	R3: 1.3302