19 Nov 2013
EUR/CAD spike overdone?
FXstreet.com (London) - EUR/CAD has rallied sharply ad scored a high of 1.4193.
A research team at TD Securities said the near-term direction for this cross remains somewhat uncertain. “The weekly reversal from the mid 1.44s around the turn of the month suggests an important top is in place…But the sell off seems to have generated little follow through interest so far and the EUR has found good support on dips, with the base of the trend channel holding the early November test”
EUR/CAD Levels
The 20 DMA is 1.4175, the 50 DMA is 1.4030 and the 200 DMA is 1.3625. RSI (14) reads 76.34. Supports are ascending from 1.3885, 1.3935, 1.3980, 1.4020, 1.4095. Spot is 1.4178 while resistances are 1.4180, 1.4230 and 1.4285.
A research team at TD Securities said the near-term direction for this cross remains somewhat uncertain. “The weekly reversal from the mid 1.44s around the turn of the month suggests an important top is in place…But the sell off seems to have generated little follow through interest so far and the EUR has found good support on dips, with the base of the trend channel holding the early November test”
EUR/CAD Levels
The 20 DMA is 1.4175, the 50 DMA is 1.4030 and the 200 DMA is 1.3625. RSI (14) reads 76.34. Supports are ascending from 1.3885, 1.3935, 1.3980, 1.4020, 1.4095. Spot is 1.4178 while resistances are 1.4180, 1.4230 and 1.4285.