EUR/CAD breaks major support at 1.4535, targets 1.4365/1.4300
Major resistance- 1.4823 (200 day MA) EUR/CAD has declined sharply yesterday after the BOC kept its interest rates on hold. The pair has broken major support 1.45395 (May 18th low) and declined till 1.45047 at the time o…
EUR/CAD has declined sharply yesterday after the BOC kept its interest rates on hold. The pair has broken major support 1.45395 (May 18th low) and declined till 1.45047 at the time of writing. It is currently trading around 1.45081.
Short term trend is slightly weak as long as resistance 1.4650 (55 day 4H EMA) holds. Any indicative break above 1.4650 will take the pair till 1.4705/1.4780/1.4825.The minor resistance is around 1.4550/1.4590.
On the lower side any break below 1.4500 will drag the pair till 1.4430/1.4365/1.4300.
It is good to sell on rallies around 1.4550 with SL around 1.4650 for the TP of 1.4365/1.4300
