EURUSD
There’s been little direction this week with 1.0660 confirming during today’s EU session a solid intraday support with 1.0820 seen as a resistance. The market pauses at around level 50 on the H4,RSI(14) awaiting clearer direction. Break below the intraday support would signal a new bear run till 1.0520, on the other side a break above 1.0820 would attract Euro buyers till the next area of 1.1020.
USDCAD
The loonie remains supported by the increase in the price of oil and intraday levels of 1.23 and 1.21 are seen as resistance and support respectively. With the Bollinger Bands becoming tighter and the price finding a resistance at the level of 50 on the H4,RSI(14) a move towards 1.2180 is likely with the RSI having a lot of room before failing into oversold area. Break below 1.2180 would signal further movements towards 1.1980
Traders should bear in mind today’s New Home Sales (USD) data release as well as tomorrow Eurogroup will held a meeting (EUR) and Durable Goods Orders (USD) data release, as all three economic events will have an impact on currencies.
There’s been little direction this week with 1.0660 confirming during today’s EU session a solid intraday support with 1.0820 seen as a resistance. The market pauses at around level 50 on the H4,RSI(14) awaiting clearer direction. Break below the intraday support would signal a new bear run till 1.0520, on the other side a break above 1.0820 would attract Euro buyers till the next area of 1.1020.
USDCAD
The loonie remains supported by the increase in the price of oil and intraday levels of 1.23 and 1.21 are seen as resistance and support respectively. With the Bollinger Bands becoming tighter and the price finding a resistance at the level of 50 on the H4,RSI(14) a move towards 1.2180 is likely with the RSI having a lot of room before failing into oversold area. Break below 1.2180 would signal further movements towards 1.1980
Traders should bear in mind today’s New Home Sales (USD) data release as well as tomorrow Eurogroup will held a meeting (EUR) and Durable Goods Orders (USD) data release, as all three economic events will have an impact on currencies.
