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Forex: EUR/CAD testing 1.2880 support

By FXstreet.com,  May 13, 2012, 10:32:00 PM EDT

FXstreet.com (San Francisco) - The EUR/CAD pair is trading under pressure and testing key support in the 1.2880 area as the euro is weak across the board after Greek political leaders failed in their latest efforts to form a ruling coalition, driving fear of the country exiting the euro zone. The pair last trades at 1.2885 as it trades an intraday range between 1.2881/1.2920, down 0.4% below Friday's close. Should EUR/CAD break below the mentioned support zone, there is room to slide to 1.2775 (12 Jan 2011 low), while offers may be found at 1.2928 (18 April low).




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Forex and Currencies

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