Canadian Dollar Tends to be Positive

The pair saw some positive attempts during previous trading, but is still limited.

Technically, looking at the 60-minute chart, we find the beginning of the positive signs for the pair with the RSI indicator trying to obtain bullish momentum supported by the intraday stability above 1.3160.

We tend to be positive, but on short intervals, to target 1.3230 / 1.3220 as an initial target, knowing that the breach of 1.3240 will lead the pair to complete the rally towards 1.3270.

Activating the temporary bullish scenario depends on trading remaining above 1.3130. It should also be carefully noted that trading below 1.3130 forces the pair to return to the official descending path with initial targets starting at 1.3090 / 1.3100 and extending to 1.3060.

Warning: the expected slight bearish bias does not contradict the daily negativity.

S1: 1.3160	R1: 1.3230
S2: 1.3130	R2: 1.3270
S3: 1.3090	R3: 1.3305