FxWirePro: EUR/CAD finds strong support at 200-DMA (1.5217), weakness only on break below

EUR/CAD chart on Trading View used for analysis

• EUR/CAD edges higher to trade 0.28% higher on the day at 1.5280 at 1040 GMT.
   
• The single currency has picked up extra pace bolstered by sentiment and upbeat data.
   
• Retail Sales in the euro bloc expanded at a monthly 0.6% in November, while the Sentix index dropped to -1.5 for the current month, although bettering expectations.
   
• Germany Nov 2018 retail sales yy fell to 1.1 % from 5 % in the previous month. However, the reading also betterred estimates at -0.7 %.
   
• The pair has paused downside, finds major support at 200-DMA at 1.5217. We see weakness only on break below.
   
• Technical studies on weekly charts is biased higher, but we see some wekaness on the daily charts.
   
• Break below 200-DMA will see weakness. On the other side, bounce of support and break above 21-EMA will see resmption on upside.

Support levels - 1.5217 (200-DMA), 1.52, 1.5084 (Dec 14 low)

Resistance levels - 1.5327 (21-EMA), 1.5381 (5-DMA), 1.54