16 Feb 2015
EUR/CAD posts fresh session highs above 1.4200
FXStreet (Mumbai) - EUR/CAD inched higher in the European morning, snapping losses from the previous session largely on the back of strength of the shared currency after Greek PM Tsipras’s comments.
EUR/CAD rises from 1.4190 levels
Currently, the EUR/CAD traded higher by 0.11% at 1.4199 levels, having posted fresh session highs at 1.4208 levels an hour ago. The cross trades higher as the Euro strengthened versus the greenback after Greek’s PM Tsipras said that he was confident of a deal being reached during today's Euro group meeting. On the CAD side of the equation, lower oil prices fails to support the loonie.
Meanwhile, a lack of data on either side, with US markets shut due to Presidents' Day, means the focus falls squarely on the Euro group meeting.
EUR/CAD Technical Levels
To the upside, the next resistance is located at 1.4213 levels and above which it could extend gains 1.4294 levels. To the downside immediate support might be located at 1.4164 levels, below that at 1.4108 levels.
EUR/CAD rises from 1.4190 levels
Currently, the EUR/CAD traded higher by 0.11% at 1.4199 levels, having posted fresh session highs at 1.4208 levels an hour ago. The cross trades higher as the Euro strengthened versus the greenback after Greek’s PM Tsipras said that he was confident of a deal being reached during today's Euro group meeting. On the CAD side of the equation, lower oil prices fails to support the loonie.
Meanwhile, a lack of data on either side, with US markets shut due to Presidents' Day, means the focus falls squarely on the Euro group meeting.
EUR/CAD Technical Levels
To the upside, the next resistance is located at 1.4213 levels and above which it could extend gains 1.4294 levels. To the downside immediate support might be located at 1.4164 levels, below that at 1.4108 levels.