EUR/CAD breaks major resistance 1.4170, jump till 1.4295 likely
Major resistance – 1.4170 Major support -1.4140 (trend line joining 1.38802 and 1.40705) EUR/CAD has broken major resistance of 1.4170 yesterday and jumped till 1.42177 at the time of writing. It is currently trading aro…
Major support -1.4140 (trend line joining 1.38802 and 1.40705)
EUR/CAD has broken major resistance of 1.4170 yesterday and jumped till 1.42177 at the time of writing. It is currently trading around 1.42144.
Short term trend is slightly bullish as long as support 1.4140 holds.
On the higher side, 76.4% fibo level is acting as near term resistance at 1.42275 (76.4% retracement of 1.43553 and 1.38197) and any violation above will take the pair to next level till 1.42980 (trend line joining 1.3936 and 1.43553).
The major support is around 1.4140 and any break below will drag the pair down till 1.4070/1.4000.
It is good to buy on dips around 1.4205-1.4208 with SL around 1.4135 for the Tp of 1.4290/1.4350
