20 Jan 2015
EUR/CAD rejected at 1.4020 resistance
FXStreet (Guatemala) - EUR/CAD is currently trading at 139.75 with a high of 1.4024 and a low of 1.3834, up 0.73% on the day so far.
EUR/CAD has been rejected at 140.20 after an impressive run up from a cent lower. The pair is finding strength and support still from the 1.3775 level on the medium term. However, rallies are said to be a fade by analysts at TD Securities who were predicting the squeeze a little higher through 1.40 in the short-term. "We would still rather look to fade short-term gains, however. Broader trends suggest that a drop to the 1.35 area (at least) is likely ahead".
1.4000 is a strong resistance and with the embarking ECB, markets are likely to remain fragile and volatile. The ECB is widely expected to start its sovereign QE programme while the Canadian dollar will remain subject to weaker oil prices, with WTI down to 46.37 the low today form 48.02 the high.
EUR/CAD has been rejected at 140.20 after an impressive run up from a cent lower. The pair is finding strength and support still from the 1.3775 level on the medium term. However, rallies are said to be a fade by analysts at TD Securities who were predicting the squeeze a little higher through 1.40 in the short-term. "We would still rather look to fade short-term gains, however. Broader trends suggest that a drop to the 1.35 area (at least) is likely ahead".
1.4000 is a strong resistance and with the embarking ECB, markets are likely to remain fragile and volatile. The ECB is widely expected to start its sovereign QE programme while the Canadian dollar will remain subject to weaker oil prices, with WTI down to 46.37 the low today form 48.02 the high.