17 Feb 2015
EUR/CAD stuck at 100-DMA
FXStreet (Mumbai) - The EUR/CAD pair recovered to trade above 50-DMA located at 1.4116, although the gains are being capped at 100-DMA located at 1.4146 levels.
Gains in CAD capped by a decline in Crude
The Canadian dollar weakened as crude prices in the US fell 0.89% to trade at USD 53.19/barrel. Moreover, Crude prices fell from a high of USD 54.32, thereby aiding the recovery in the EUR/CAD pair from the low of 1.4093 levels. The pair currently trades 0.11% lower at 1.4139 levels. Meanwhile, an upbeat Zew data helped EUR gain strength amid Greece led uncertainty. The pair may extend gains if Crude prices continue to fall ahead of tomorrow’s weekly supply data in the US.
EUR/CAD Technical Levels
The immediate resistance is seen at 1.4161, above which gains could be extended to 1.42 levels. On the flip side, support is seen at 1.4117 (50-DMA) and 1.4093 levels.
Gains in CAD capped by a decline in Crude
The Canadian dollar weakened as crude prices in the US fell 0.89% to trade at USD 53.19/barrel. Moreover, Crude prices fell from a high of USD 54.32, thereby aiding the recovery in the EUR/CAD pair from the low of 1.4093 levels. The pair currently trades 0.11% lower at 1.4139 levels. Meanwhile, an upbeat Zew data helped EUR gain strength amid Greece led uncertainty. The pair may extend gains if Crude prices continue to fall ahead of tomorrow’s weekly supply data in the US.
EUR/CAD Technical Levels
The immediate resistance is seen at 1.4161, above which gains could be extended to 1.42 levels. On the flip side, support is seen at 1.4117 (50-DMA) and 1.4093 levels.