USDCAD Trading News in Forex market
1/24/2018 3:51:34 PM
After trading below the 1.2405 handle in Forex market, the pair expanded this week's refusal slide from the key 1.25111 psychological mark and was being get down by constant USD selling bias.
On a constant decline below the 1.2405 handle, the pair is probable to speed up the drop towards the 1.2363-57 support area before finally reducing to test the 1.2310 round figure mark.
In the meantime, any significant recovery effort might now provoke fresh supply near the 1.2437 area, above which a bout of short-covering could boost the pair back towards 1.2477 persistence on the way 1.2507 handle.
FOREX market analysis by FxErvin.