7 May 2015
EUR/CAD: Bulls need a break through 1.3760
FXStreet (Guatemala) - EUR/CAD is currently trading at 1.3704 with a high of 1.3769 and a low of 1.3605.
EUR/CAD has been recovering from the pressures above 1.3760 of European business and is attempting the 1.37 handle again. The upside is still very much in tact and a convincing close through this current resusrance would stand the cross in good stead for a continuation for the 1.40 handle.
However, analyst at TD Securities explained that their bullish assessment of EUR/CAD’s outlook has run into a technical “brick wall” in the form of resistance in the upper 1.37 area. "The 1.3760 line was a major pivot point for the cross between January (support) and though March (resistance) and may hold up EUR/CAD progress near-term."
EUR/CAD has been recovering from the pressures above 1.3760 of European business and is attempting the 1.37 handle again. The upside is still very much in tact and a convincing close through this current resusrance would stand the cross in good stead for a continuation for the 1.40 handle.
However, analyst at TD Securities explained that their bullish assessment of EUR/CAD’s outlook has run into a technical “brick wall” in the form of resistance in the upper 1.37 area. "The 1.3760 line was a major pivot point for the cross between January (support) and though March (resistance) and may hold up EUR/CAD progress near-term."