EUR/CAD Clears 2018 HighEuro / Canadian DollarFOREXCOM:EURCADFOREXcomEUR/CAD clears the 2018 high (1.6153) as it climbs to a fresh yearly high (1.6177), with the rise in the exchange rate pushing the Relative Strength Index (RSI) toward overbought territory. A move above 70 in the RSI is likely to be accompanied by a further advance in EUR/CAD like the price action from earlier this year, with a move/close above 1.6220 (50% Fibonacci extension) opening up the 1.6350 (78.6% Fibonacci retracement) to 1.6390 (61.8% Fibonacci extension) zone. However, lack of momentum to push/close above 1.6220 (50% Fibonacci extension) may keep the RSI below 70, with a move below 1.6050 (38.2% Fibonacci extension) bringing 1.5950 (100% Fibonacci extension) on the radar. --- Written by David Song, Senior Strategist at FOREX.com