USDCAD in bullish merging stage in Forex market
10/25/2017 7:07:57 AM
During Forex market, the USDCAD pair now appears to have entered a bullish merging stage and now trading near the 1.2662-68 area.
Bulls would be eyeing for a follow-over buying interest beyond the 1.2705 handle, above which the up-move is probable to get expanded towards 1.2750-65 persistence area.
On the weakness, 80-day EMA persistence break, near the 1.2657 area, now becomes an immediate support to defend, which if broken might cause a corrective slide towards the 1.2605 handle on the way mid-1.2511s.
FOREX market analysis by FxErvin.