USD CAD Sticks to remain above the handle
8/30/2017 8:30:11 PM
During Forex market, the USD/CAD pair got several new bids around 1.2504 and improved four week lows.
Immediate persistence is fixed near mid-1.2510s, above which a fresh bout of short-covering could boost the pair beyond the 1.2607 handle towards its next persistence near 1.2622 level.
On the other hand, the 1.2503 handle now becomes an immediate support to defend, which if broken could speed up the slip back towards 1.2447-58 intermediate support on the way several month lows support near the 1.2417-12 area.
FOREX market analysis by FxErvin.