USDCAD stayed under various selling pressure
10/12/2017 10:37:23 AM
The USDCAD pair stayed under various selling pressure in Forex market for the 2rd successive session and expanded its slip farther below the key 1.2505 psychological mark.
Immediate support is seen near 1.2427 level, below which the pair is probable to speed up the slip towards the 1.2405 handle before finally falling to its next support near mid-1.2305s.
On the advantage, 1.2475-85 zone might now cover any immediate recovery efforts, which if cleared might cause a short-covering rally towards 1.2505-10 intermediate hurdle ahead of 1.2555 area.
FOREX market analysis by FxErvin.