29 Jan 2015
EUR/CAD bid onto 1.43 handle but remains within range
FXStreet (Guatemala) - EUR/CAD is currently trading at 1.4300 with a high of 1.4325 and a low of 1.4113.
EUR/CAD has managed a convincing break to the upside and onto 1.4300, despite disappointing numbers from Germany's CPI's. WTI remains offered, dropping over a buck in the US session provoking a rally in USD/CAD.
Meanwhile, analysts at TD Securities explained that EUR/CAD’s rebound has some traction on the short-term charts but the cross remains essentially range-bound still. "We still rather think sustained gains through 1.44/1.45 will be hard to achieve—the EUR has roundly failed to capitalize on gains to the 200-day MA over the past few weeks and longer-term trend signals are more neutral at this point. We await a more decisive—and sustained—move outside of the range one way or another."
EUR/CAD has managed a convincing break to the upside and onto 1.4300, despite disappointing numbers from Germany's CPI's. WTI remains offered, dropping over a buck in the US session provoking a rally in USD/CAD.
Meanwhile, analysts at TD Securities explained that EUR/CAD’s rebound has some traction on the short-term charts but the cross remains essentially range-bound still. "We still rather think sustained gains through 1.44/1.45 will be hard to achieve—the EUR has roundly failed to capitalize on gains to the 200-day MA over the past few weeks and longer-term trend signals are more neutral at this point. We await a more decisive—and sustained—move outside of the range one way or another."