EUR/CAD chart - Trading View
- EUR/CAD is trading 0.06% higher on the day at 1.5093 at 0715 GMT.
- The pair is struggling at 110-EMA resistance and break above will see further upside.
- Technical studies support further gains in the pair. Momentum studies bullish.
- Break above 110-EMA finds next immediate resistance at 200-DMA at 1.5139 ahead of 38.2% Fib at 1.5168.
- On the downside, 55-EMA is immediate support at 1.5073. Break below will see weakness till 21-EMA.
- Focus on eurozone PMI and retail sales data due later today. Also BoC monetary policy meeting will be eyed for further impetus.
Support levels - 1.5073 (55-EMA), 1.5044 (5-DMA), 1.5025 (21-EMA)
Resistance levels - 1.5139 (200-DMA), 1.5168 (38.2% Fib), 1.5225 (Jan 23 high)
Recommendation: Stay long on breakout at 110-EMA, target 1.5140/ 1.5165/ 1.52
For details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.
