USD CAD withdrawn to low according to Forex market
4/18/2017 9:18:33 AM
The USD/CAD pair's overnight recovery moved near 1.3337 immediate persistence level and has now recoiled back to 1.3315-20 band.
Retracement back below the 1.3305 handle, leading to a succeeding descent below 1.3283 level now appears to pull the pair below 1.3266 towards testing 1.3247 horizontal support on the way very important 180-day SMA support near 1.3220 area.
On the upside, only a constant move above 1.3337 immediate persistence could open room for extension of the pair's recovery move towards 1.3383 intermediate persistence ahead of the 1.3405 handle and 1.3436 strong horizontal persistence.
FOREX market analysis by FxErvin.