USD CAD Tried to be stable over the handle
9/14/2017 10:17:35 AM
The USD/CAD pair improved overnight stable recovery move and might now be looking to make a fresh effort to defeat the 1.2203 handle.
On Wednesday, the pair succeeded to recover early lost ground to 1.2133 level but unsuccessful to stand at higher levels.
Momentum beyond the 1.2211 handle might keep on to provoke some supply near 1.2223-27 area, above which the pair is probable to speed up the move towards mid-1.2203s before finally aiming to reclaim the 1.2307 mark.
On the other hand, mid-1.2105s now appears to protect immediate downside, which if broken conclusively could drag the pair back below the 1.2105 handle towards testing its next support near 1.2077 level.
FOREX market analysis by FxErvin.