USD CAD limited in a slight range 2
1/30/2017 9:24:47 AM
The USD/CAD pair has been limited within a 25-pips slight band and is now heading towards the top end of daily trading area.
Now trading around 1.3137 area, the pair has stick to its move back above the very important 180-day SMA.
Immediate persistence is set near 1.3155 area above which the pair is likely to head towards 1.3197 horizontal persistence. A follow through buying interest as the potential to lift the pair towards 1.3217 hurdle ahead of 1.3255 strong barrier.
On the other hand, 1.3117 area lefts immediate support to preserve, which if broken is likely to push the pair towards 1.3088 intermediate support, on the way 1.3067 and 1.3043 support levels.
FOREX market analysis by FxErvin.