EURCAD bears taking profit from the short-term bearish trend channel’s lower line. 50-day moving average 1.5386 and the upper line of the channel 1.5417 can be followed as resistance this week. Below these levels, 1.53 targeted down move may continue.
For bullish pressures to return, EURCAD must break the1.5430 and hold above that level. Until then upside move can create selling opportunities.