Expected Rebound Zones on the Canadian Index

The Canadian Index is moving within an ascending price channel

on the daily timeframe. Currently, we expect

some corrections on the Canadian Index

which implies a temporary weakness in the Canadian dollar.

The index is still expected to rise during this correction.

Expected Targets

If the Canadian Index falls, we expect

to test the demand zones identified on the chart

which are located at the 1.4924 level.

These are strong areas from which a rebound is expected

to the targets identified at the 1.4970 and 1.5030 levels.

The analysis will be invalidated if the demand zones and the ascending price channel are broken

and if the daily candle closes below them.