EURCAD is coming into an area with confluence of strong support. TL coming from the lows of August 2012, through April 2015. The lows of July and September 2017 are there and are being tested for the first time in 2 years.
It's also the 127% extension of the daily last move up.
It's also the 127% extension of the daily last move up.
Last time Draghi disappointed the doves and we got a surge in the EUR. We got the same neutral tone from the RBA and BOC recently. If Draghi sounds less dovish again this is where I'll be looking.