EUR/CAD - Eyes rising trend line support on hourly
Cross had a nice run after witnessing a bullish break from sideways channel as mentioned here.
Pair's is now eyeing rising trend line support seen at 1.4637 levels - 1.4627 (50-SMA). The hourly RSI is yet to reach oversold territory, thus indicating scope for a drop to trend line support.
A break lower would expose 1.4578 (falling trend line support on daily chat) where fresh demand can be anticipated, given the daily RSI is sitting above 50.00 levels.
Pair's is now eyeing rising trend line support seen at 1.4637 levels - 1.4627 (50-SMA). The hourly RSI is yet to reach oversold territory, thus indicating scope for a drop to trend line support.
A break lower would expose 1.4578 (falling trend line support on daily chat) where fresh demand can be anticipated, given the daily RSI is sitting above 50.00 levels.
