USDCAD moving slowly to high
2/21/2018 7:05:25 AM
The USDCAD pair improved overnight bullish development 150-day EMA barrier and traded near the 1.2624-33 area.
The constant bullish momentum appears strong enough to keep on increasing the pair towards reclaiming the 1.2705 handle on the way very important 180-day EMA hurdle near the 1.2723 area.
On the other hand, any profit-taking slide now appears to find instant support near the 1.2624 area, which if broken might cause some extra-long-unwinding and pull the pair back below the 1.2607 handle towards its next support near the 1.2545-50 area.
FOREX market analysis by FxErvin.