USD Trading News versus Canadian Dollar
10/2/2017 11:50:05 PM
The USDCAD pair got some fresh bids near 45-day EMA and has now progressed beyond the key 1.2505 psychological mark, back nearer to Friday's one-month tops.
Bulls would be watching for a follow through buying interest beyond 1.2534-45 area, above which the pair is probable to aim towards reclaiming the 1.2605 handle before finally moving towards 1.2615-26 horizontal persistence.
On the other hand, any retracement back below the 1.2505 handle might keep on to find immediate support near the 1.2455 area, which if broken could speed up the slide back towards 1.2415-25 strong horizontal support.
FOREX market analysis by FxErvin.