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4 Feb 2015
EUR/CAD: 1.3800-1.4500 range bound
FXStreet (Guatemala) - EUR/CAD is currently trading at 1.4341 with a high of 1.4387 and a low of 1.4220
EUR/CAD highs of the spike from 1.4260 have been tapered back with a test to the downside of the 1.43 handle before catching a minor bounce to the mid-way point of the handle.
Meanwhile, Analysts at TD Securities explained EUR/CAD retains a soft undertone on the charts. "The market seems equivocal on the cross right here as the broader range has held a number of tests in the past few months and trend signals are mixed—bullish in the shorter-term studies, flat in the longer term."
"We are neutral here too at the moment though we rather think the longer-term trend lower prevails eventually. We’ll need to see a sustained break above 1.45 or below 1.38 to really see conviction levels rise at this point though."
EUR/CAD highs of the spike from 1.4260 have been tapered back with a test to the downside of the 1.43 handle before catching a minor bounce to the mid-way point of the handle.
Meanwhile, Analysts at TD Securities explained EUR/CAD retains a soft undertone on the charts. "The market seems equivocal on the cross right here as the broader range has held a number of tests in the past few months and trend signals are mixed—bullish in the shorter-term studies, flat in the longer term."
"We are neutral here too at the moment though we rather think the longer-term trend lower prevails eventually. We’ll need to see a sustained break above 1.45 or below 1.38 to really see conviction levels rise at this point though."