FXstreet.com (San Francisco) - With underlying trend dynamics displaying a decidedly bearish trading environment, with moving averages diverging and aiming lower, and with price printing lower highs and lower lows, the bear pressure in EUR/CAD has pushed the cross back down to its all-time low of 1.2448 this Thursday in North America, a price not seen since 10 June 2010.
At the time of writing, EUR/CAD has made another couple of tick lower to a fresh all-time low of 1.2445 vs. 1.2482 late Wednesday. Rallies appear to be capped by the 9 EMA on the 4-hr chart, while technical studies show the RSI operating in oversold trading conditions on both the 4-hour and Daily timeframe chart.
At the time of writing, EUR/CAD has made another couple of tick lower to a fresh all-time low of 1.2445 vs. 1.2482 late Wednesday. Rallies appear to be capped by the 9 EMA on the 4-hr chart, while technical studies show the RSI operating in oversold trading conditions on both the 4-hour and Daily timeframe chart.
