USD trapped in a slim range versus CAD
9/25/2017 7:55:37 AM
The USD/CAD pair tried for a stable direction and stayed confined within a 15-20 pips slim trading range in Forex market, below mid-1.2305s, through early European session.
At present trading around 1.2344 level, the pair has unsuccessful to gain any fresh traction in spite of a modest pick-up in the USD demand.
A follow over buying interest beyond 1.2363-75 area now appears to help the pair to aim towards exceeding the 1.2400 handle before finally darting towards 25-day EMA hurdle near the 1.2473 area.
On the downside, constant decline back below the 1.2303 handle could drag the pair back towards an intermediate support near mid-1.2205s area.
FOREX market analysis by FxErvin.