USD Improved preceding lows versus CAD
9/27/2017 9:06:34 AM
During Forex market activities, the USD/CAD pair increased some positive traction on Wednesday and has now improved preceding session's slip from three-week tops.
On Tuesday, the pair unsuccessful to continued early move beyond the 1.2410 handle and ultimately broke seven successive days of winning streak.
Instant strong persistence stays near 1.2395-1.2407 area, which if cleared conclusively should pave way for expansion of the pair's up-move towards 80-day EMA hurdle near the 1.2462-67 area.
On the other hand, mid-1.2303 is likely to protect immediate weakness, below which the pair is probable to speed up the fall back towards the 1.2303 handle on the way 1.2265-55 strong horizontal support.
FOREX market analysis by FxErvin.