USD CAD stuck on several month lows in Forex market
6/14/2017 2:32:53 PM
The USD/CAD pair stayed under some selling pressure for the 4th successive day and held at 1.3504 psychological mark.
A follow through weakness below the 1.3189 handle, leading to a succeeding decline below 1.3187 horizontal support, is probable to speed up the downslide more towards its next support near 1.3153 area. On the other hand, any recovery move beyond 1.3244 area now appears to face some fresh supply near the 1.3307 handle, which if cleared might cause a short-covering rally towards 1.3384 intermediate persistence ahead of the 1.3410 round figure mark.
FOREX market analysis by FxErvin.