Yahoo Finance Technical Outlook of Important CAD Pairs: 25.04.2018
USD/CAD
USDCAD’s break of 1.2805-15 horizontal-area presently struggles with the 1.2860 resistance-line in order to justify its strength in targeting the 1.2900 and the 1.2945-50 upside barriers. Though, break of 1.2950 could quickly propel the quote towards 1.3000 and the 1.3050 resistances. Should prices fail to clear the 1.2860 mark, the 1.2830 can act as immediate support before highlighting the 1.2815-05 region for one more time. Given the pair’s drop beneath the 1.2805, also smashing the 1.2800 round-figure, the 1.2770 and the 1.2745 can reappear on the chart. Moreover, pair’s additional declines below 1.2745 can entertain the sellers with the 1.2670 and the 1.2620 ahead of pleasing them by showing 1.2580 number.
EUR/CAD
Even if the EURCAD manages to surpass immediate trend-line resistance of 1.5705, the 1.5750-55 zone could limit the pair’s following advances, if not then its present recovery can aim for the 1.5800, the 1.5830 and the 1.5865 consecutive resistances. On the downside, the 1.5675, the 1.5640 and the 1.5600-1.5595 might be considered as adjacent supports for the pair during its U-turn. In case the pair refrains to respect the 1.5595 rest-point, the 1.5540 and the 1.5500 may become buffers prior to shifting traders’ attention to early-month low around 1.5460.
GBP/CAD
Alike EURCAD, the GBPCAD seems also finding it hard to stretch latest up-moves as month-old descending TL, at 1.7955, holds the gate for the pair’s rise in direction to the 1.8000 and the 1.8050 resistances. Assuming the pair’s ability to conquer 1.8050, the 1.8110, the 1.8135 and the 1.8170 can be buyers’ favorites. Meanwhile, the 1.7900 and the 1.7840 could offer rest to the pair on its reversal but 1.7820-15 might confine extended south-run. Though, break of 1.7815 may not hesitate reprinting the 1.7775, the 1.7730 and the 61.8% FE level of 1.7700 on pessimists’ minds.
CAD/JPY
With more than a week-long downward slanting trend-line restricting the CADJPY’s nearby upside around 84.95, the pair may revisit 84.55 before availing the 84.30-25 support. Should the pair declines below 84.25, an ascending TL, at 83.30, becomes important to watch, which if broken could drag the prices to 82.80 and the 82.50 supports. Alternatively, break of 84.95 can again fuel the quote to 85.20 and the 85.45 while recent high of 85.75 and the 86.30, comprising 61.8% FE, seem crucial then after.
Cheers and Safe Trading,
Anil Panchal
This article was originally posted on FX Empire
