Canadian Touches Bullish Correction Goal

The Canadian dollar succeeded in completing the bullish correction mentioned in the previous technical analysis, touching the target of the aforementioned correction wave at 1.2830, to hit its highest level at 1.2835.

Technically, by a closer look at the 60-minute chart, we find the moving average continues to hold the price and supports the upward curve for prices, in addition to trading stability above the support level of 1.2740 and the most important 1.2700.

This increases the probability of continuing the bullish correction, knowing that the breach of 1.2830 facilitates the task required to visit 1.2850 and then 1.2920, respectively.

The return of trading to stability below 1.2700 will immediately stop the attempts to rise, and we may witness a bearish bias once again targeting 1.2630.

S1: 1.2705	R1: 1.2850
S2: 1.2625	R2: 1.2920
S3: 1.2560	R3: 1.3000