USD CAD Decrease from high
8/8/2017 1:17:31 PM
The USD/CAD pair now appears to have entered a merging phase and fluctuated within 10-20 pips slim trading range just above mid-1.2610s.
Momentum back above the 1.2693-1.2705 area now appears to pave way for expansion of the pair's recovery move towards mid-1.2705s ahead of the 1.2807 handle. On the other hand, retracement below 1.2633-37 zone would turn the pair at risk to float back below the 1.2610 mark towards its next support near the 1.2563-55 area.
FOREX market analysis by FxErvin.