25 May 2015
EUR/CAD trades below 1.35
FXStreet (Mumbai) - The EUR/CAD was rejected at the high of 1.3521 post which it fell into losses to trade at 1.3489 levels.
EUR/CAD: Trades below 38.25 Fib retracement
The pair also breached the 38.2% Fib retracement (1.3022-1.3802) support located at 1.3505 levels. The offered tone on the EUR is strong enough to ensure the pair trades weak even though major trading desks in Europe and US are on a holiday.
At the moment, the losses in the pair appear to have halted around 1.3490 levels as the weakness in Crude caps gains in the CAD.
EUR/CAD Technical Levels
The immediate support is seen at 50-DMA located at 1.3466, under which the pair could extend the drop to 1.3412 (50% R of 1.3022-1.3802). On the flip side, a break above 1.3528 (5-DMA) could open doors for 1.3619 (23.6% R of 1.3022-1.3802).
EUR/CAD: Trades below 38.25 Fib retracement
The pair also breached the 38.2% Fib retracement (1.3022-1.3802) support located at 1.3505 levels. The offered tone on the EUR is strong enough to ensure the pair trades weak even though major trading desks in Europe and US are on a holiday.
At the moment, the losses in the pair appear to have halted around 1.3490 levels as the weakness in Crude caps gains in the CAD.
EUR/CAD Technical Levels
The immediate support is seen at 50-DMA located at 1.3466, under which the pair could extend the drop to 1.3412 (50% R of 1.3022-1.3802). On the flip side, a break above 1.3528 (5-DMA) could open doors for 1.3619 (23.6% R of 1.3022-1.3802).