EUR/CAD breaks minor resistance 1.3600,marching towards 1.3766

FX:EURCAD   Euro / Canadian Dollar
93 0 0
RES4: 1.38005 (Mar 5th high)

RES3:1.3766 (May 7th high)


RES 1: 1.36850 (76.4% retracement of 1.3766 and 1.34280)

PRICE: 1.36546 @11:37 GMT            

SUP 1: 1.3625 (Cloud top)

SUP 4: 1.3600 (Resistance turned into support)

SUP3: 1.3540 (Kijun-Sen)

SUP4: 1.3520 (20 day HMA )

EUR/CAD has taken support near 200 day 4HMA and recovered till 1.3565 from that level. Overall trend is bullish as long a support 1.3600 holds.

On the upside minor resistance is around 1.3710 and any break above will target 1.3766/1.3800 in short term.

It is good to buy at declines around 1.3650 with stop around 1.3595 for the target of 1.3710/1.3766.

Rangarajan H
FX Analyst
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