Noor Trends News, Technical Analysis, Educational Tools and Recommendations
The Canadian dollar maintained its gains within the bullish corrective slope, as we expected, touching the first target mentioned in the previous analysis, which is located at 1.2550, recording the highest level at 1.2550.
From the technical analysis point of view today, we tend to the positivity, relying on the stability of the intraday trading above 1.2460 and above the pivotal support floor of 1.2410, the 61.80% Fibonacci correction.
We target 1.2580/1.2600 initial targets, and its breach is a catalyst that enhances the chances of achieving gains to visit 1.2630, and gains may extend later to visit 1.2700. In general, we continue to suggest the bullish trend unless we witness any trading below 1.2410.
| S1: 1.2455 | R1: 1.2580 |
| S2: 1.2410 | R2: 1.2630 |
| S3: 1.2340 | R3: 1.2700 |
