EUR/CAD hovers around the 1.46 handle, intraday bias lower.
Symmetric triangle pattern on 4 hourly charts. Pair was rejected at triangle top.
Techs support downside, RSI and Stochs biased lower.
Focus on final manufacturing PMIs in Euroland ahead of the speech by ECB’s E.Nowotny.
Major support levels - 1.4588 (4H 50-MA), 1.4555 (20-DMA), 1.4540 (triangle base).
Major resistance levels - 1.4634 (session high), 1.4650 (triangle top), 1.4672 (Aug 22 high).
Good to sell rallies around 1.4620, SL: 1.4660, TP: 1.4555/ 1.4540
Symmetric triangle pattern on 4 hourly charts. Pair was rejected at triangle top.
Techs support downside, RSI and Stochs biased lower.
Focus on final manufacturing PMIs in Euroland ahead of the speech by ECB’s E.Nowotny.
Major support levels - 1.4588 (4H 50-MA), 1.4555 (20-DMA), 1.4540 (triangle base).
Major resistance levels - 1.4634 (session high), 1.4650 (triangle top), 1.4672 (Aug 22 high).
Good to sell rallies around 1.4620, SL: 1.4660, TP: 1.4555/ 1.4540