The EUR/CAD has now broke below its 200 day SMA (was previously ‘hugging’) following a stronger read on CPI and Retail Sales this morning in Canada. Also, the H&S daily pattern is in play, which also targets levels 400 pips below current prices. Next meaningful support is near 1.4500 where the daily trend line is in play.

Blake Morrow

Chief Currency Strategist, Wizetrade

Disclaimer: I shorted the EUR/CAD following today’s data releases