EUR/CAD Rebounds Ahead of Monthly Low
EUR/CAD appears to be reversing course ahead of the monthly low (1.4283) as it retraces the decline from the previous week.
EUR/CAD Rate Outlook
EUR/CAD consolidates following the failed attempt to test the February low (1.4239), and the exchange rate may stage a run at the monthly high (1.4540) as it holds above 1.4260 (38.2% Fibonacci retracement).
A break above the monthly high (1.4540) brings the 1.4590 (23.6% Fibonacci retracement) to 1.4640 (23.6% Fibonacci extension) region back on the radar, with a move above the 50-Day SMA (1.4612) opening up 1.4770 (50% Fibonacci extension).
However, EUR/CAD may struggle to retain the rebound from the weekly low (1.4326) as the moving average develops a negative slope, with a move below 1.4360 (38.2% Fibonacci extension) raising the scope for another run at 1.4260 (38.2% Fibonacci retracement).
EUR/CAD Rate Outlook
EUR/CAD consolidates following the failed attempt to test the February low (1.4239), and the exchange rate may stage a run at the monthly high (1.4540) as it holds above 1.4260 (38.2% Fibonacci retracement).
A break above the monthly high (1.4540) brings the 1.4590 (23.6% Fibonacci retracement) to 1.4640 (23.6% Fibonacci extension) region back on the radar, with a move above the 50-Day SMA (1.4612) opening up 1.4770 (50% Fibonacci extension).
However, EUR/CAD may struggle to retain the rebound from the weekly low (1.4326) as the moving average develops a negative slope, with a move below 1.4360 (38.2% Fibonacci extension) raising the scope for another run at 1.4260 (38.2% Fibonacci retracement).
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Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.