26 Mar 2014
EUR/CAD picking up momentum
FXStreet (Guatemala) - EUR/CAD had been losing momentum a little more obviously yesterday, and analysts at TD Securities explained that was leaving the market poised to test support in the low/mid 1.53s in the days ahead.
EUR/CAD’s balance has been shifted more towards a push below the 1.5330 area which analysts at TD Securities described as the recent pivotal zone defined by the highs from earlier this year and the early March low. “Weakness below this point would imply the risk of a deeper pullback—and there really hasn’t been a significant correction at all to the run-up seen over the past year”.
EUR/CAD Levels
The 20 DMA is 1.5360, the 50 DMA is 1.5180 and the 200 DMA is 1.4330. RSI (14) reads 61.33. Supports are ascending from 1.5135 1.5225, 1.5280 and 1.5300, Spot is 1.5340 while resistances are 1.5545, 1.5585, 1.5600 and 1.5690.
EUR/CAD’s balance has been shifted more towards a push below the 1.5330 area which analysts at TD Securities described as the recent pivotal zone defined by the highs from earlier this year and the early March low. “Weakness below this point would imply the risk of a deeper pullback—and there really hasn’t been a significant correction at all to the run-up seen over the past year”.
EUR/CAD Levels
The 20 DMA is 1.5360, the 50 DMA is 1.5180 and the 200 DMA is 1.4330. RSI (14) reads 61.33. Supports are ascending from 1.5135 1.5225, 1.5280 and 1.5300, Spot is 1.5340 while resistances are 1.5545, 1.5585, 1.5600 and 1.5690.