EUR/USD 4H chart EUR/USD surged after Powell’s speech on Friday…
EUR/CAD broke support zone
2019-11-11 • Updated
- EUR/CAD broke support zone
- Next sell target - 1.5100
EUR/CAD recently broke the support zone lying between the key support level 1.5400 (which stopped the previous minor correction (iv) in February, as can be seen below), support trendline of the daily up channel from October and the 61.8% Fibonacci correction of the upward impulse from January. The breakout of this support zone strengthened the bearish pressure on this currency pair. EUR/CAD is expected to fall toward the next sell target at the next support level 1.5100.
In the middle of September 2022, the Canadian dollar has fallen to a 2-year low against the USD
The US dollar index has all chances of reaching the 2000s high of 120.00.
The Consumer Price Index announcement by Statistics Canada is set for release in a few hours will reveal the state of inflation in the Canadian economy