The Canadian Maintains Its Gains

The Canadian dollar managed to maintain positive stability above the pivotal support level published during the previous analysis, located at the price of 1.2500, heading towards touching the first target of 1.2590, recording the highest price of 1.2598 during the early trading of the current session.

Technically, the bullish trend is still the most preferred one, based on the positive signals coming from the RSI and obtaining more bullish momentum, coinciding with the positive motive of the 50-day moving average.

Thus, we complete our targets to visit 1.2610/1.2620, a correction of 23.60% and 1.2660, respectively. Trading and price stability above the pivotal support floor 1.2500, 38.20% correction, an important and basic condition to activate the suggested bullish scenario.

S1: 1.2535	R1: 1.2620
S2: 1.2480	R2: 1.2660
S3: 1.2440	R3: 1.2705