Canadian Dollar Struggles at Support

The technical outlook remains unchanged, and the Canadian dollar has not changed significantly, preserving negative stability.

Technically, the technical factors indicate the possibility of continuing the decline, to find the simple moving averages continue negative pressure on the price from the top, accompanied by the obvious negative impact on the stochastic indicator.

Nevertheless, we prefer to remain neutral for the moment and wait for confirmation of a break of 1.2920, which leads the pair to continue the bearish path to visit our second target 1.2875, and then 1.2830. The surpassing the 1.3010 resistance level is a trigger factor boosting the possibility of a re-selection of 1.3060.

Warning: Stochastic is trading around oversold areas.

S1: 1.2920	R1: 1.3010
S2: 1.2875	R2: 1.3055
S3: 1.2830	R3: 1.3100