USDCAD Making new effort to improve
2/23/2018 5:17:15 AM
The USDCAD pair reclaimed traction and is now making a new effort to improve its momentum beyond the very important 2150-day EMA hurdle.
The pair had a good two-way move on Thursday, firstly flew to a 3-month high level of 1.2758 after disappointing Canadian retail sales data but sold off rather intensely later in the day.
The big streaks to watch are 1.2923, the triple top that was seen in late 2017, followed by the round number of USD 1.3003. On the weakness, the January high of 1.2588 is the immediate support line, followed by .12445 and 1.2253.
FOREX market analysis by FxErvin.