Noor Trends News, Technical Analysis, Educational Tools and Recommendations
The Canadian dollar succeeded in touching the bearish corrective target that is required to be touched during the last analysis, located at 1.2720, recording its lowest level at 1.2642.
Technically, the stability of trading below the previously broken support level, which is now 1.2720 resistance level, supports the continuation of the bearish corrective bias, in addition to the loss of the RSI indicator of the bullish momentum.
Therefore, we are targeting 1.2600/1.2580 next official station. Only from above, the above and the rise again above 1.2720/1.2730 is able to postpone the bearish corrective bias, and we may witness a retest of the 1.2770 resistance level.
| S1: 1.2580 | R1: 1.2770 |
| S2: 1.2520 | R2: 1.2900 |
| S3: 1.2385 | R3: 1.2970 |
