Canadian Dollar Touches Goals

The Canadian dollar remains on the negative side, as we expected, in which we relied on breaking the support level of 1.2985, heading directly towards the first target 1.2930, to record its lowest level during the previous session at 1.2923.

Technically, the technical factors indicate the possibility of continuing the decline, as we find the simple moving averages continue the negative pressure on the price from the top, accompanied by clear negativity on the stochastic indicator.

Nevertheless, we prefer to remain neutral and await 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.

Breaking 1.3010 resistance level is a catalyst boosting the possibility of a re-selection of 1.3060.

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