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Forex pairs in this Article » EUR/CAD (San Francisco) - The Canadian dollar is extending the gain against its European counterpart in North America, as EURCAD pulls back from the 2-month high (1.2798) set overnight to as low as 1.2698, recording a 0.6% loss so far today.

TD Securities on EURCAD: "The broader trend here remains constructive and momentum is positive but net losses on the session so far suggests that the rally is perhaps poised to consolidate and may give back some of the recent strength at least. Extended losses on the session today would suggest the risk of a more serious setback unfolding."

Intraday charts show that price now hovers above the 100-hour EMA at 1.2676, now immediate support; below there, a 61.8% Fibonacci level lies at 1.2653, then further support is noted at 1.2625 (Sep 13 high). Upside rallies may encounter resistance at 1.2726 (9-hour EMA), then 1.2736 (21-hour EMA).
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