• FxWirePro: EUR/CAD finds stiff resistance at 100-dma at 1.4783, bias neutral

    Source: FxWireTechnicals / 13 Oct 2017 04:37:42   Eastern Standard Time

    • EUR/CAD trades in 'Symmetric Triangle' pattern, intraday bias neutral.
       
    • The pair finds stiff resistance at 100-DMA at 1.4783, upside capped below.
       
    • Technical studies do not show any clear directional bias. RSI is holding above 50 levels and Stochs are showing reversal from near overbought levels.
       
    • 20-DMA is strong support on the downside, we see further weakness on break below.
       
    • Break below 20-DMA raises scope for test of Triangle base at 1.4545.
       
    • On the flipside, break above 100-DMA will see test Triangle top at 1.4970.

    Support levels - 1.47, 1.4698 (20-DMA), 1.46, 1.4545 (Triangle top)

    Resistance levels - 1.4754 (5-DMA), 1.4783 (100-DMA), 1.4838 (Oct 11 high), 1.4970 (Triangle top)

    FxWirePro Currency Strength Index: FxWirePro's Hourly EUR Spot Index was at -64.8804 (Neutral), while Hourly CAD Spot Index was at -46.7614 (Neutral) at 0810 GMT. For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.

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