On the daily chart, the growth continued, the pair reached the next "round" level of 1.2700. This is a strong resistance level and on Tuesday the closing may be above it, which would open the way for further growth to the next "round" level of 1.2800 (the July maximum is also near this level). However, now the size of the growth wave from 1.2300 has increased even more, to 400 points, without significant pullbacks. At the same time, there is also no significant rollback for a long time - a month. Approaching the resistance at 1.2800 increases the probability of a pullback due to the previously passed large movement. In addition, and this is not a technical consideration, the pair broke away from the fundamentals. From this point of view, there is no data that would correspond to a large decline in the Canadian dollar for the month. However, the pair's growth trend is still strong. According to directional movement indicators, the trend is growth: DM+ is significantly higher than DM-, the MACD histogram is in a positive zone, the MACD line has a positive slope. The sequence of growth of relative highs and lows is not broken.
On the four-hour chart, the pair exited the upward triangle also upwards. Now the combination of the upper boundary of the triangle and the level of 1.2700 can be considered as the closest support for a pullback. The growth of the pair's relative minima remains on this scale. According to ADX, the growth trend is increasing: the excess of DM+ over DM is very large at a high level of ADX. So far, growth in the short term seems more likely. Stronger support during the pullback can be expected on the trend line, which is close to the level of the overcome resistance of 1.2655.
Resistance Level: 1.2800
Support levels: 1.2700; 1.2655