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- EUR/CAD has made a low of 1.4270 yesterday and started to recover from that level. It is currently trading around 1.4320.
- The pair has broken major trend line resistance 1.4323 (trend line joining 1.4906 and 1.4667) and this confirms minor bullishness, a jump till 1.4426 (55 day 4H EMA) is possible. Minor resistance is around 1.4350.
- Canadian dollar is trading weak against all major pairs on weak crude oil prices
. - The major resistance stood at 1.4460 and break will take to new level around 1.4500.
- On the downside minor support is around 1.4295 and break below targets 1.4270/1.4250.
It is good to buy at dips around 1.4310 with SL around 1.4270 for the TP of 1.4370/1.4425
Resistance
R1-1.4350
R2-1.4425
R3- 1.4450
Support
S1- 1.4295
S2-1.4270
S3-1.4250
