Forex Flash: EUR/CAD has reachable target at 1.34 – TD Securities
Forex pairs in this Article » EUR/CAD
FXstreet.com (Barcelona) - About the EURCAD, TD Securities analysts say the cross has broken through strong short-term resistance at 1.3185 to reach its best level since April 2012, and broader EUR strength seems likely to extend, protentially pushing the EURCAD higher as well. "We turned bullish on the cross in August as the market made a solid technical reversal from the long-term trend decline from 1.75 around the 1.21 area", wrote analysts Shaun Osborne and Greg Moore. "We think 1.34 is a reasonable and reachable target for the cross in the next few weeks", they added, adding that Canadian international securities transaction data is unlikely to have much influence on the market.