Canadian Dollar Looking For Extra Momentum

The Canadian dollar found a strong resistance level near the psychological barrier of 1.2800, which was able to limit the bullish correction mentioned in the previous analysis

Technically, and despite the current bearish bias, we tend to be positive, relying on trading stability above 1.2700 / 1.2690 accompanied by stochastic attempts to obtain additional bullish momentum again. We are targeting 1.2775, as a first target, and then 1.2830, bearing in mind that surpassing the aforementioned level is a catalyst that enhances the chances of an upside move towards 1.2830.

From below, a confirmation of breaking 1.2690 will immediately Cancel the suggested scenario and put the price under strong negative pressure targeting 1.2640.

S1: 1.2690	R1: 1.2775
S2: 1.2665	R2: 1.2800
S3: 1.2630	R3: 1.2835