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26 Jun 2015
EUR/CAD: In negative territory towards a bearish close
FXStreet (Guatemala) - EUR/CAD is currently trading at 1.3750 with a high of 1.3868 and a low of 1.3744.
EUR/CAD has fallen sharply with the euro across the board. It is currently testing key support ahead of the closing bell in the US session, with some hours to go until the FX market shuts and leaves the cross in a negative light for next week's open. Bears are looking for a close below 1.3760. The greeks are losing time and there still has not been a deal that can be agreed upon. Markets are looking towards the possibility of a Grexit again.
EUR/CAD testing the key support
Technically, analysts at TD Securities noted that EUR gains have stalled at the 200-day MA through June and a low weekly close (a clear risk) this week would undercut a lot of the good work the EUR has done over the past few weeks. "From here, we rather think the near-term direction for the market will be governed by the EUR reaction to the 1.3760 level; while a break lower (which a weekly reversal would certainly suggest is a risk) would target as dip back to 1.34/1.36 at least.
EUR/CAD has fallen sharply with the euro across the board. It is currently testing key support ahead of the closing bell in the US session, with some hours to go until the FX market shuts and leaves the cross in a negative light for next week's open. Bears are looking for a close below 1.3760. The greeks are losing time and there still has not been a deal that can be agreed upon. Markets are looking towards the possibility of a Grexit again.
EUR/CAD testing the key support
Technically, analysts at TD Securities noted that EUR gains have stalled at the 200-day MA through June and a low weekly close (a clear risk) this week would undercut a lot of the good work the EUR has done over the past few weeks. "From here, we rather think the near-term direction for the market will be governed by the EUR reaction to the 1.3760 level; while a break lower (which a weekly reversal would certainly suggest is a risk) would target as dip back to 1.34/1.36 at least.