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4 Feb 2015
EUR/CAD trades above 200-DMA
FXStreet (Mumbai) - The EUR/CAD pair extended gains to trade above the 20-DMA located at 1.4289 levels amid falling Crude prices and disappointing Canadian data.
CAD extends losses after weak Ivey PMI
The CAD extended losses after the Ivey PMI for January came-in shockingly weaker-than-expected. The Canadian Ivey PMI in for January fell to 42.6, missing the expected print of 53.4 by a big margin. Meanwhile, weak Crude prices continue to weigh over the CAD.
The pair also rose above the hourly 50-SMA and 100-SMA located at 1.4262 and 1.4299 levels. Further gains may be capped if markets shift their attention to political developments in Greece.
EUR/CAD Technical Levels
The pair currently trades 0.75% higher at 1.4361 levels. The immediate resistance is seen at 1.4386, above which the pair may rise to 1.4497 levels. On the flip side, a break below 1.4313 (5-DMA) shall open doors for a re-test of 1.4289 (200-DMA) levels.
CAD extends losses after weak Ivey PMI
The CAD extended losses after the Ivey PMI for January came-in shockingly weaker-than-expected. The Canadian Ivey PMI in for January fell to 42.6, missing the expected print of 53.4 by a big margin. Meanwhile, weak Crude prices continue to weigh over the CAD.
The pair also rose above the hourly 50-SMA and 100-SMA located at 1.4262 and 1.4299 levels. Further gains may be capped if markets shift their attention to political developments in Greece.
EUR/CAD Technical Levels
The pair currently trades 0.75% higher at 1.4361 levels. The immediate resistance is seen at 1.4386, above which the pair may rise to 1.4497 levels. On the flip side, a break below 1.4313 (5-DMA) shall open doors for a re-test of 1.4289 (200-DMA) levels.