Euro Trades Nearly 4-week Low Against Canadian Dollar

Euro Trades Nearly 4-week Low Against Canadian Dollar

The euro reached 1.2590 against the Canadian dollar on Wednesday morning in Asia, its lowest level since September 14. This was down almost 20-pips or 0.15 percent from Tuesday's North American session closing quote of 1.2609.

The EUR/CAD pair is now hanging at the neckline of a double-top formation in higher-time frame charts and the immediate support is visible around the 1.2570 level. Key demand levels to watch beyond this area are 1.2425, 1.2350 and 1.2140/50.