USD CAD Declines for several successive session in Forex market
6/6/2017 3:58:17 PM
The USD/CAD pair stayed under some selling pressure for the 4rd successive session and is now located at several day lows near mid-1.3397s.
Immediate support is fixed near 1.3437 level, which if broken is probable to speed up the slide back below the 1.3403 handle towards several week lows support near 1.3387 area.
On the upside, 1.3483 level might now act as immediate persistence and is thoroughly followed by the key 1.3503 psychological mark, above which a bout of short-covering could boost the pair beyond 1.3547 persistence towards reclaiming the 1.3607 handle.
FOREX market analysis by FxErvin.