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EUR/CAD on recovery mode, eyeing 1.4200

FXStreet (Córdoba) - EUR/CAD is recovering ground on Wednesday after falling yesterday from 2-week highs at 1.4187 to 1.4033 (Jan 13 low).

The pair moved in ranges today between 1.4050 and 1.4160. The euro has been unable to confirm above 1.4100 but still holds a bullish tone in the short term as it continues to move above an uptrend line. Last week EUR/CAD tested 2014 lows at 1.3880 but managed to hold above and then turned to the upside.

EUR/CAD technical levels

From the current levels, resistance might be located at 1.4160 (daily high), 1.4205 (Dec 29 high) and 1.4245. To the downside, support could be placed at 1.4050, 1.4000 (Dec 12 low) and 1.3965.

GBP/JPY onto the 178 handle post heavy daily losses

GBP/JPY is currently trading at 178.03 with highs of 178.89 and lows at 176.77 and down 0.35% on the day.
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Beige book: Faster Growth expected

The Federal Reserve expects 'somewhat faster growth over the coming months' according to its Beige Book about the current situation of the 12 Federal Reserve Districts.
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