13 Dec 2013
EUR/CAD a sure sell?
FXstreet.com (London) - EUR/CAD has slowed down into the end of the session and remains on the 1.45 handle after a sharp drop from 1.4620.
Strategists at TD Securities said, “After a 6 big figure rally with no sort of correction at all, a drop back of some sort would not surprise, especially as the cross is bumping up against bull channel ceiling resistance. Overall, though, the trend up remains well entrenched so a persistent decline is needed to signal a top. We still think the 1.48 area might offer better, medium-term resistance”.
EUR/CAD Levels
The 20 DMA is 1.4380, the 50 DMA is 1.4225 and the 200 DMA is 1.3710. RSI (14) reads 43.14. Supports are ascending from 1.4420, 1.4445, 1.4490 and 1.4545. Spot is 1.4552 while resistances are 1.4740, 1.4775, 1.4815 and 1.4840.
Strategists at TD Securities said, “After a 6 big figure rally with no sort of correction at all, a drop back of some sort would not surprise, especially as the cross is bumping up against bull channel ceiling resistance. Overall, though, the trend up remains well entrenched so a persistent decline is needed to signal a top. We still think the 1.48 area might offer better, medium-term resistance”.
EUR/CAD Levels
The 20 DMA is 1.4380, the 50 DMA is 1.4225 and the 200 DMA is 1.3710. RSI (14) reads 43.14. Supports are ascending from 1.4420, 1.4445, 1.4490 and 1.4545. Spot is 1.4552 while resistances are 1.4740, 1.4775, 1.4815 and 1.4840.