USD failed to improve versus cad in Forex market
3/17/2017 10:24:07 AM
According Forex market, the USD/CAD pair extended its integrative price-action and was limited within 30-pips narrow trading range just above the 120-day SMA.
On Thursday, the pair was unsuccessful to develop its recovery move from two-week lows and faded a bullish spike to mid-1.3303s to ultimately end the day with only peripheral gains.
Instant support is fixed at 120-day SMA near the 1.3303 handle, below which the pair is probable to break below two-week lows support near 1.3277 level and head towards testing 1.3228 horizontal support. On the upside, momentum above 1.3353 area might cause a short-covering recoil towards 1.3377 horizontal area ahead of the 1.34003 handle and 1.3427 persistence.
FOREX market analysis by FxErvin.