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1 Nov 2013
EUR/CAD on route for 1.40 handle?
FXstreet.com (London) - Research teams at TD Securities explained the EUR/CAD’s big figure has changed eight times over the past two weeks with the cross making a rapid round trip return from 1.41 to 1.44 and (almost) all the way back again.
“Back under the 1.4125 resistance point, the technical picture looks weak for the cross from a short-term point of view at least. Losses are liable to extend further below 1.4125 to test the lower end of the bull channel at least at 1.3936”.
EUR/CAD Levels
The 20 DMA is 1.4155, the 50 DMA is 1.3995, and the 200 DMA is 1.3590. RSI (14) reads 21.71. Supports are ascending from 1.4000, 1.4040 and 1.4085. Spot is currently 1.4086 while resistances are 1.4110,1.4155, 1.4350, 1.4375, 1.4440 and 1.4580.
“Back under the 1.4125 resistance point, the technical picture looks weak for the cross from a short-term point of view at least. Losses are liable to extend further below 1.4125 to test the lower end of the bull channel at least at 1.3936”.
EUR/CAD Levels
The 20 DMA is 1.4155, the 50 DMA is 1.3995, and the 200 DMA is 1.3590. RSI (14) reads 21.71. Supports are ascending from 1.4000, 1.4040 and 1.4085. Spot is currently 1.4086 while resistances are 1.4110,1.4155, 1.4350, 1.4375, 1.4440 and 1.4580.