USD CAD still high on FOREX market
12/22/2016 4:51:19 PM
In forex trading, USD/CAD pair restarted with its bullish traction and jumped to fresh three week high near mid-1.3410s. The pair, though, has recoiled from highs and is now trading around 1.3427 level, still holding with slight gains.
Momentum above session peak persistence near 1.3445 area now appears to pave way for extension of the pair's near-term upward trajectory firstly towards 1.3487 level and ultimately towards 1.3510 psychological mark. On the downside, session low near 1.3415 level now becomes immediate support, which if broken is likely to quicken the slide towards 50-day SMA support near 1.3350 area, with some intermediate support near 1.3377 level.
FOREX Fundamental Analysis
Written by FxErvin