USD preserving itself to highs versus CAD
3/1/2017 10:09:31 AM
The USD versus CAD was seen developing to prior two session's strong up-move back above 80-day SMA and stayed above 1.3303 handle near 5 week highs.
Currently trading around 1.3317 area, the pair has been insistently declining since the start of this week in spite of a range limited action around the key USD index and WTI crude oil.
Immediate persistence is fixed near 1.3333 level, above which the pair appears to aim towards 1.3387 persistence ahead of 1.3444 strong hurdle. On the other hand, declines below 1.3303 handle now appears to find immediate support at 80-day SMA near 1.3273 area, which if broken is probable to pull the pair back towards 1.3227 intermediate support, en-route 45-day SMA persistence turned support near 1.3217 area.
FOREX market analysis by FxErvin.