USD CAD descending below psychological mark
5/23/2017 7:49:44 PM
USD/CAD pair descending more below the key 1.3505 psychological mark and now trading around 1.3483 level.
A follow through selling pressure below 1.3467 horizontal support has the possible to keep on pulling the pair more towards its next support near 1.3443 area on the way 1.3403 handle. On the other hand, any recovery efforts back above the 1.3505 handle now appears to provoke strong persistence near 1.3533 area, above which a bout of short-covering could boost the pair towards 1.3577 hurdle ahead of the 1.3610 handle.
FOREX market analysis by FxErvin.