USD: technical outlook
The USD made decisive moves mostly with the exotic currencies - let's have a look to prepare for new market entries.
EUR/CAD broke support zone
- 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.
Dmitry Chernovolov
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