USD sticks to increase more versus CAD
1/12/2018 2:42:04 PM
During Forex market, the USDCAD pair got several new bids near the key 1.2505 psychological mark and refreshed session tops in the last hour, although rapidly recoiled some pips later.
Momentum away from 1.2557-63 area might keep on to provoke fresh supply near the 1.2580-1.2605 area, above which the pair is probable to speed up the up-move towards its net hurdle near 1.2673 level.
On the other hand, the 1.2505 handle stays an immediate strong support to defend, which if broken conclusively might turn the pair at risk to head back near 1.2468 intermediate support on the way 1.2410 handle.
FOREX market analysis by FxErvin.