FXstreet.com (Barcelona) - The EUR/CAD plunge during the European session fell as low as 1.2388 and returned back to the 1.2400 psychological level that is holding the pair against the downside.
The monetary policy report of the Bank of Canada will be released at 14:30 GMT after yesterday’s unchanged interest rate decision. Fed’s Bernanke testimony at 14:00 GMT can also move the market sentiment.
Below today’s low at 1.2388, the EUR/CAD might find support at Monday’s low of 1.2388 before extending its historical lows on its way to 1.2300. The upside may find resistance at the current level of 1.2450, ahead of yesterday’s high at 1.2500.
The monetary policy report of the Bank of Canada will be released at 14:30 GMT after yesterday’s unchanged interest rate decision. Fed’s Bernanke testimony at 14:00 GMT can also move the market sentiment.
Below today’s low at 1.2388, the EUR/CAD might find support at Monday’s low of 1.2388 before extending its historical lows on its way to 1.2300. The upside may find resistance at the current level of 1.2450, ahead of yesterday’s high at 1.2500.
