Strategists at TD Securities said EUR/CAD is losing momentum. Still, while the rally flattens, there are obvious signs of a reversal. Would you notice that yesterday's session saw a day of upper outer interval; We have noted before that price bullish signals after an extensive (and bearish signals after an extended run of less) sometimes reflect a climax (sold). After a great 6 rally with no correction at all, a drop on the back a sort does not surprise me, especially as the cross is bumping up against resistance ceiling of toro. Overall, though, the trend up stays well rooted a persistent decline is necessary to signal a top. We still think that the 1.48 area might offer better resistance, in the medium term ".
EUR/CAD layers
The 20 DMA is 1.4380, DMA is 50 and 200 DMA 1.4225 is 1.3710. RSI (14) 43.14 law. Supports are ascending from 1.4420, 1.4445, 1.4490 and 1.4545. Spot is 1.4572, while the resistances are 1.4740, 1.4775, 1.4815 and 1.4840.
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