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27 Nov 2013
EUR/CAD 1.44 still range
FXstreet.com (London) - EUR/CAD has come off the highs and ducked below the 1.44 handle again.
Research teams at TD Securities explained that EUR/CAD’s rally has extended through the upper 1.43 area after the pause in the rally that was observed on Monday which failed to generate any significant downside movement at all. “…the broader trend is positive and well-supported by strong trend dynamics. With the market well above the 1.4125 pivot point and short-term moving average signals, the recent 1.440 peak looks at risk again and the broader bull trend continues to play out”.
EUR/CAD Levels
The 20 DMA is 1.4135, the 50 DMA is 1.4085 and the 200 DMA is 1.3640. RSI (14) reads 64.31. Supports are ascending from 1.4070, 1.4120,1.4165, 1.4200, 1.4335, 1.4355, 1.4375, 1.4440 and 1.4580.
Research teams at TD Securities explained that EUR/CAD’s rally has extended through the upper 1.43 area after the pause in the rally that was observed on Monday which failed to generate any significant downside movement at all. “…the broader trend is positive and well-supported by strong trend dynamics. With the market well above the 1.4125 pivot point and short-term moving average signals, the recent 1.440 peak looks at risk again and the broader bull trend continues to play out”.
EUR/CAD Levels
The 20 DMA is 1.4135, the 50 DMA is 1.4085 and the 200 DMA is 1.3640. RSI (14) reads 64.31. Supports are ascending from 1.4070, 1.4120,1.4165, 1.4200, 1.4335, 1.4355, 1.4375, 1.4440 and 1.4580.