USD CAD sticks to moderate advances
9/21/2017 12:00:01 PM
The USD/CAD pair on Wednesday flowed nearly 180-pips from sub-1.2205 level after the Fed specified that it stays on target to deliver one more interest rate hike in 2017.
On a constant move beyond 1.2353 area, the pair is probable to make a fresh effort towards reclaiming the 1.2407 handle before finally darting towards 1.2437 intermediate hurdle on the way 80-day EMA near the key 1.2503 psychological mark.
On the other hand, the 1.2303 handle now becomes immediate support to defend, which if broken could speed up the drop back towards 1.2244-32 zone ahead of the 1.2205-1.2195 strong support.
FOREX market analysis by FxErvin.