USD/CAD presents a modest bearish tone

12 October, 2017

The pair presents a modest bearish tone on Wednesday. Sellers dragged the price from 1.2600 to 1.2500 where they met an obstacle. The 1.2500 handle not only stopped the spot but also rejected it towards 1.2550. The resistance is at 1.2600, the support stands 1.2500.

The pair tested the lower limit of the ascending channel. A move below the line will strengthen sellers’ positions threatening the 1.2400 level after that.


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