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14 Jan 2015
EUR/CAD on recovery mode, eyeing 1.4200
FXStreet (Córdoba) - EUR/CAD is recovering ground on Wednesday after falling yesterday from 2-week highs at 1.4187 to 1.4033 (Jan 13 low).
The pair moved in ranges today between 1.4050 and 1.4160. The euro has been unable to confirm above 1.4100 but still holds a bullish tone in the short term as it continues to move above an uptrend line. Last week EUR/CAD tested 2014 lows at 1.3880 but managed to hold above and then turned to the upside.
EUR/CAD technical levels
From the current levels, resistance might be located at 1.4160 (daily high), 1.4205 (Dec 29 high) and 1.4245. To the downside, support could be placed at 1.4050, 1.4000 (Dec 12 low) and 1.3965.
The pair moved in ranges today between 1.4050 and 1.4160. The euro has been unable to confirm above 1.4100 but still holds a bullish tone in the short term as it continues to move above an uptrend line. Last week EUR/CAD tested 2014 lows at 1.3880 but managed to hold above and then turned to the upside.
EUR/CAD technical levels
From the current levels, resistance might be located at 1.4160 (daily high), 1.4205 (Dec 29 high) and 1.4245. To the downside, support could be placed at 1.4050, 1.4000 (Dec 12 low) and 1.3965.