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FxWirePro: EUR/CAD finds major resistance at 1.4650, good to sell rallies

EUR/CAD hovers around the 1.46 handle, intraday bias lower. Symmetric triangle pattern on 4 hourly charts. Pair was rejected at triangle top. Techs support downside, RSI and Stochs biased lower. Major support levels - 1.…

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FxWirePro: EUR/CAD finds major resistance at 1.4650, good to sell rallies
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  • EUR/CAD hovers around the 1.46 handle, intraday bias lower.
     
  • Symmetric triangle pattern on 4 hourly charts. Pair was rejected at triangle top.
     
  • Techs support downside, RSI and Stochs biased lower.
     
  • Major support levels - 1.4588 (4H 50-MA), 1.4555 (20-DMA), 1.4540 (triangle base).
     
  • Major resistance levels - 1.4634 (session high), 1.4650 (triangle top), 1.4672 (Aug 22 high).
     

Recommendation: Good to sell rallies around 1.4620, SL: 1.4660, TP: 1.4555/ 1.4540
 

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