USD unsuccessful to boost more versus CAD
7/4/2017 4:21:57 PM
During Forex market activities, the USD/CAD pair unsuccessful to develop preceding session's regaining move more beyond the key 1.3007 psychological mark.
Now trading around 1.2983 area, the pair required any strong follow through momentum among quiet dollar action. Actually, the USD Index stalled its recent recovery move near the 96.02 handle and is finally weighing on the major.
Immediate support is fixed near 1.2968 level, below which the pair is probable to expand the recent depreciating move more towards 1.2921 intermediate support ahead of the 1.2906 handle.
On the upside, continued recovery beyond the 1.3007 handle is probable to cause a short-covering rally towards 1.3069 horizontal persistence on the way 1.3115 handle.
FOREX market analysis by FxErvin.