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15 Dec 2014
EUR/CAD retreats modestly from 9-week highs
FXStreet (Córdoba) - EUR/CAD rose to 1.4447 at the beginning of the week, reaching the strongest level since October 21, extending the rally that started from 1.3955 on December 4. From the highs the pair pulled back finding support at 1.4365. Currently trades at 1.4405, slightly below Friday’s closing price.
The loonie is rising against the euro for the first time in in more than a week, supported by a stabilization of the USD/CAD below 1.1600 and a modest recovery in crude oil prices.
EUR/CAD levels to watch
To the upside, immediate resistance is seen at 1.1445/50 (daily high) and above here at the 1.4500 zone (October high). To the downside, immediate support lies at 1.4365/70 (daily low) and below here at 1.4320 and 1.4270 (Nov 28 high).
The loonie is rising against the euro for the first time in in more than a week, supported by a stabilization of the USD/CAD below 1.1600 and a modest recovery in crude oil prices.
EUR/CAD levels to watch
To the upside, immediate resistance is seen at 1.1445/50 (daily high) and above here at the 1.4500 zone (October high). To the downside, immediate support lies at 1.4365/70 (daily low) and below here at 1.4320 and 1.4270 (Nov 28 high).