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EUR/CAD: Today’s Major Levels 1.5109 and 1.5221
The EUR/CAD pair has been moving downwards, since the 22nd of November 2015, with the bears leading the price from as high as 1.5322 to as low as 1.4941.
The single currency felt aggressively at the early US session on Tuesday from 1.5295 down to 1.5089, but the pair upward today at the 1.5217 level. In the event that the buyers manage to gain enough momentum to push the price to break above 1.5232, profit targets could be set at 1.5322.
Conversely, in the scenario where the sellers resume their downward activity and the price breaks below 1.5087, the pair could go down to 1.5030 and 1.4941 in extension.
Please note: The content in this daily technical analysis article should not be taken as investment advice. It comprises our personal view.