- EUR/CAD may move in the region around the psychological level of 1.4700.
- The 14-day RSI indicates continued bearish momentum, hovering just above the 30 level.
- The cross rate could test the area near “pullback resistance” around the 1.4870 level.
EUR/CAD extends its losing streak for the fifth session in a row, reaching close to 1.4770 in the first European trading hours on Thursday. Technical analysis of the daily charts indicates weakening short-term momentum, with the nine-day exponential moving average (EMA) trading below the 14-day EMA.
Meanwhile, the 14-day Relative Strength Index (RSI), a widely used indicator for assessing overbought or oversold conditions, is currently just above 30. This suggests continued bearish momentum without confirmation of a completely oversold condition.
If the RSI falls below 30, traders may be looking for signs of an upward correction. A bounce from oversold levels could push the pair back towards the 1.4800-1.4850 range, where sellers may once again question the strength of any recovery attempt.
On the other hand, key support is located at 1.4700, a level that is particularly crucial for technical traders. This support can either act as a buffer, potentially slowing further decline, or, if broken decisively, reinforce the downtrend. A break below 1.4700 could open the door for EUR/CAD to move towards a seven-month low of 1.4587.
On the other hand, EUR/CAD faces initial resistance around 1.4870, a level that previously served as support but has now become “pullback resistance.” A move above this “throwback” level may suggest the emergence of a cautious bullish mood among traders.
If EUR/CAD breaks above 1.4870, attention will shift to the nine-day EMA at 1.4884 and the 14-day EMA at 1.4922. These EMAs act as active resistance points that must be crossed for any significant upside momentum to gain traction.
EUR/CAD: Daily chart
PRICE IN EURO today
The table below shows the current percentage change of the euro (EUR) against the main listed currencies. The euro was at its weakest against the Canadian dollar.
| USD | EUR | GBP | JPY | BOOR | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | 0.05% | 0.09% | 0.12% | -0.03% | 0.06% | 0.12% | 0.07% | |
| EUR | -0.05% | 0.04% | 0.05% | -0.08% | 0.02% | 0.07% | 0.01% | |
| GBP | -0.09% | -0.04% | 0.02% | -0.12% | -0.02% | 0.03% | -0.02% | |
| JPY | -0.12% | -0.05% | -0.02% | -0.14% | -0.06% | -0.02% | -0.05% | |
| BOOR | 0.03% | 0.08% | 0.12% | 0.14% | 0.10% | 0.16% | 0.10% | |
| AUD | -0.06% | -0.02% | 0.02% | 0.06% | -0.10% | 0.06% | 0.00% | |
| NZD | -0.12% | -0.07% | -0.03% | 0.02% | -0.16% | -0.06% | -0.07% | |
| CHF | -0.07% | -0.01% | 0.02% | 0.05% | -0.10% | -0.01% | 0.07% |
The heat map shows the percentage changes of the major currencies relative to each other. The base currency is selected from the left column and the quote currency from the top row. For example, if you select Euro from the left column and move along the horizontal line to US Dollar, the percentage change displayed in the box will represent EUR (base)/USD (quote).
