The Canadian dollar has reached the local high before the resistance level. The high was confirmed by the 4-hour fractal. According to the Stochastic oscillator located in the overbought zone, today we can expect a downside rebound with target at 0.9463 (Thursday’s low). Last points of the SAR parabolic system repeat the local resistance level of the 10-days price channel accurately.
S&R levels for today:
Resistance – 0.9543
Support – 0.9463
