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21 Feb 2014
EUR/CAD on the offer after immense volatility
FXStreet (Guatemala) - The EUR/CAD was whippy on the release of mixed data between January CPI and December Retail Sale’s figures. The price action on the release was trading in a range between 1.5350 and 1.5261.
Canadian Core Consumer Price Index read 1.4% vs 1.3% consensus year on year and month on month read 0.2% vs 0.1% consensus, up on previous -0.4%. This offered a boost to the Loonie although at the same time traders needed to consider the dismal retail sale data for December that came in month on month -1.8% vs -0.4% expected and 0.5% previous. EUR/CAD is settling in after the whippy price action on the offer and is currently trading 1.5287. However, the pair remains in an overall bull trend and had been trading at daily highs this week.
EUR/CAD Levels
The 20 DMA is 1.5090, the 50 DMA is 1.4860 and the 200 DMA is 1.4120. RSI (14) reads 57.53. Supports are ascending from, 1.4905, 1.4995, 1.5005 and 1.5095. Spot is 1.5297 while resistances are 1.5310, 1.5340 and 1.5400.
Canadian Core Consumer Price Index read 1.4% vs 1.3% consensus year on year and month on month read 0.2% vs 0.1% consensus, up on previous -0.4%. This offered a boost to the Loonie although at the same time traders needed to consider the dismal retail sale data for December that came in month on month -1.8% vs -0.4% expected and 0.5% previous. EUR/CAD is settling in after the whippy price action on the offer and is currently trading 1.5287. However, the pair remains in an overall bull trend and had been trading at daily highs this week.
EUR/CAD Levels
The 20 DMA is 1.5090, the 50 DMA is 1.4860 and the 200 DMA is 1.4120. RSI (14) reads 57.53. Supports are ascending from, 1.4905, 1.4995, 1.5005 and 1.5095. Spot is 1.5297 while resistances are 1.5310, 1.5340 and 1.5400.