USDCAD still weak above the handle in Forex market
11/10/2017 2:18:48 PM
According to Fx market the USDCAD pair is now located at above two week lows, exactly above middle 1.2605s.
Any recovery efforts might now provoke fresh supply near the 1.2710 handle, above which a fresh bout of short-covering could boost the pair back towards 1.2733-45 hurdle ahead of the 1.2777-83 supply zone.
On the other hand, decline below 1.2666 area now appears to pave the way for an extension of the pair's near-term descending trajectory towards 50-day EMA support, currently near the 1.2607 handle.
FOREX market analysis by FxErvin.