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EUR/CAD: Chart Of The Day

EUR/CAD: Chart Of The Day

With EUR/USD breaking out and USD/CAD near some long-term weekly support, the risk of a higher EUR/CAD exchange rate exists. The recent drop from the 1.6000 level found support at the 38% retracement at the 1.5628 level, which may act as a spring for an eventual break of the 1.6000 level resistance in the coming weeks. RSI is mid-range and poised to follow the price higher as well.

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