Canadian Dollar Maintains Bullish Path

Sideways trading that tends to be negative, continues to dominate the Canadian dollar’s ​​moves, trapped from the bottom above the support level of 1.2600 and from the top below the resistance level of 1.2700 for several consecutive sessions.

Technically speaking, we tend to be negative, relying on the stability of trading below 1.2665 accompanied by the loss of the bullish momentum stochastic, and despite the technical factors that support the decline, we prefer to confirm the break of 1.2600 / 1.2580, which forces the pair to enter a strong selling wave, the initial target of which is 1.2550 while Its official target is around 1.2500.

From the top, pushing to the upside and rising above 1.2665 will lead the pair to recover again, heading to visit 1.2700 / 1.2710.

S1: 1.2580	R1: 1.2665
S2: 1.2550	R2: 1.2715
S3: 1.2500	R3: 1.2750