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The Canadian dollar continues its efforts to rise to re-test the 1.2800 resistance level, which it has not yet been able to breach.
Technically, the current trading is stabilizing near its lowest level during the early trading at 1.2700, and with a closer look at the chart, we find the stochastic indicator began to provide signs of a positive crossover that may push the price up again.
From here, with trading above 1.2680, it forces us to hold onto our positive outlook, knowing that surpassing the upside resistance level at 1.2740 is a catalyst that enhances the chances of an upside move towards 1.2790.
Breaking 1.2680 will immediately stop the current bullish attempts and lead the pair to a bearish path, the primary goal of which is to re-test the pivotal support 1.2620.
| S1: 1.2690 | R1: 1.2770 |
| S2: 1.2650 | R2: 1.2820 |
| S3: 1.2605 | R3: 1.2850 |
