12 Dec 2013
EUR/CAD challenged the 1.4665 resistance
FXstreet.com (London) - EUR/CAD has rallied through 1.4645 on route to challenge 1.4665 resistance making the high there for now.
Strategists at TD Securities said, “EUR/CAD is trading with a firmer bias on the day so far but the past few sessions have seen gains fade through the close of business, leaving a toppish feel to the daily chart as we near the bull channel ceiling (1.4687). We think EUR gains may well extend near-term (next few weeks) but 1.4750/1.4850 should be a strong zone of medium-term resistance for the cross”.
EUR/CAD Levels
The 20 DMA is 1.4350, the 50 DMA is 1.4215 and the 200 DMA is 1.3705. RSI (14) 59.92. Supports are ascending from 1.4370, 1.4420, 1.4445, 1.4490 and 1.4605. Spot is currently 1.4639 with resistances at 1.4665, 1.4740 and 1.4775.
Strategists at TD Securities said, “EUR/CAD is trading with a firmer bias on the day so far but the past few sessions have seen gains fade through the close of business, leaving a toppish feel to the daily chart as we near the bull channel ceiling (1.4687). We think EUR gains may well extend near-term (next few weeks) but 1.4750/1.4850 should be a strong zone of medium-term resistance for the cross”.
EUR/CAD Levels
The 20 DMA is 1.4350, the 50 DMA is 1.4215 and the 200 DMA is 1.3705. RSI (14) 59.92. Supports are ascending from 1.4370, 1.4420, 1.4445, 1.4490 and 1.4605. Spot is currently 1.4639 with resistances at 1.4665, 1.4740 and 1.4775.