EURCAD Chart Technical Outlook trades south toward 1.4530
EUR/CAD broad bias is bearish. Prices have been consolidating recently, with a preference to beak to the downside. There is room for losses toward 1.4530. If broken, 1.4490 is the following barrier. Resistances are located at 1.4630 and 1.4700.
Rising oil prices and expected growth in Canada’s GDP due this week could support the CAD, while the recently dovish ECB is still in play.
