Noor Trends News, Technical Analysis, Educational Tools and Recommendations
The Canadian dollar jumped, maintaining the series of gains that it achieved recently, as we expected, touching our official target for the previous report at 1.2930, to record the highest level at 1.2950.
Technically, the pair found a strong resistance level around 1.2950, which forced it to retreat to retest 1.2810.
The negativity of stochastic increases the possibility of a temporary bearish bias in the coming hours to retest 1.2770 before attempts to rise again, and it may extend to 1.2720.
Warning: the aforementioned bearish bias contradicts the daily bullish trend, whose official targets are around 1.3000.
| S1: 1.2715 | R1: 1.2930 |
| S2: 1.2570 | R2: 1.3010 |
| S3: 1.2500 | R3: 1.3150 |
