On the daily chart, the pair again reached support at the "round" level of 1.2600. Consolidation below the level of 1.2700 may indicate that the pressure towards growth has now eased. However, when the pair recovers from 1.2600, the growth trend of relative highs and lows in September remains. When trading in the range since July, a decline to the lower limit at 1.2500 would be preferable, but maintaining the pair's strength despite the fundamental factors favorable for the Canadian dollar is not in favor of a decline: if the Canadian dollar does not grow on positive fundamental factors, the direction of least resistance is a decline.
On the four-hour chart, the pair overcame the descending trend line, if you build it from September 20. In addition, the sequence of decreasing relative highs and lows of the pair was violated. This may indicate a reversal on this scale. However, now the pair is below the strong resistance at the "round" level of 1.2700, the risk of a pullback from which is increased. But if the level of 1.2700 is overcome, the growth, based on the current range of 1.2600-1.2700, can reach the next "round" level of 1.2800. According to the indicators of directional movement, the trend may be growth: there is no excess of DM - over DM+ now, the MACD histogram has moved into a positive zone after the growth, the MACD line is unfolding.
Resistance levels: 1.2700; 1.2800
Support levels: 1.2655; 1.2600