Weak performance for the Euro against the Canadian Dollar
Euro CAD closes with a downturn
The Euro CAD exchange rate fell by 0.36% at the close of trading. The weak performance of the Euro was due to a combination of factors, including a stronger Canadian Dollar and a weaker Euro.
Technical analysis
The technical analysis of the Euro CAD pair shows that the pair is currently in a downtrend. The 100-day moving average is below the 50-day moving average, and the MACD is below the zero line. This indicates that the bears are in control of the market and that the trend is likely to continue in the short term. However, there are some signs that the downtrend may be coming to an end. The RSI is above the 30 level, which indicates that the pair is oversold. This could lead to a short-term bounce in the price of the Euro CAD.
Conclusion
The Euro CAD exchange rate is currently in a downtrend. However, there are some signs that the downtrend may be coming to an end. The RSI is above the 30 level, which indicates that the pair is oversold. This could lead to a short-term bounce in the price of the Euro CAD.
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