USDCAD Tries to stay on top in Forex market
3/12/2018 7:43:32 PM
The USDCAD pair merged Friday's fall to 1-2 week lows and was seen fluctuating in a range just above the 1.2811 handle.
Now floating around the 1.2811-18 area, the pair required any stable directional bias and now appeared to wait for several fresh catalyst.
Recovery efforts beyond 1.2823 level might now provoke several new supply near the 1.2855 horizontal level, above which the pair is probable to move back towards regaining the 1.2903 handle.
On the other hand, constant decline below the 1.2811 round figure mark now appears to pave the way for an expansion of the pair's corrective slip near 1.2763 horizontal support on the way 1.2707 handle.
FOREX market analysis by FxErvin.