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FxWirePro: EUR/CAD finds minor support at 1.4554, break below to target 1.45

Friday, August 26, 2016 7:23 AM UTC

EUR/CAD intraday bias lower.
On hourly charts the pair has broken below 20-MA and trendline support at 1.4570.
Major support seen at 200-MA at 1.4554, break below to see test of 1.45 levels.
Violation there at 200-MA will drag the pair lower to 1.4484 and then 1.4463 levels.
Bearish invalidation only on close above 5-DMA at 1.4590.

Recommendation: Good to go short on breakout below 1.4554, SL: 1.46, TP: 1.45/ 1.4484/ 1.4463

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FxWirePro: EUR/CAD finds minor support at 1.4554, break below to target 1.45

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