EUR/CAD 4H Chart: Supported by SMAs

Note: This section contains information in English only.
Source: Dukascopy Bank SA
Indicator4H1D1W
MACD(12;26;9)BuyBuySell
RSI(14)NeutralNeutralNeutral
Stochastic(5;3;3)NeutralNeutralNeutral
Alligator(13;8;5)BuyBuySell
SAR(0.02;0.2)SellBuySell
Aggregate

The common European currency appreciated about 107 base points against the Canadian Dollar during last week's trading session. The exchange rate tested a resistance cluster formed by the combination of the weekly and the monthly pivot points at 1.5161 on Friday.

The 50-, 100– and 200-hour SMAs are currently providing support for the currency pair at 1.5052.

If the support cluster holds, bullish traders could push the currency exchange rate towards a psychological resistance level at 1.5200.

However, if the pair passes the cluster as mentioned earlier, a decline towards the 1.4949 regions could be expected.

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