EURCAD Chart Technical Outlook

EURCAD Chart Technical Outlook Big Picture analysis is still bullish the daily chart highlights EUR/CAD moving higher within the CD leg of a Crab formation. This pattern will not be complete until 1.5620.
With a weakening demand for oil pushing the Canadian Dollar lower, we are seeing the dip being bought again this morning.
On a shorter timescale, we have bespoke support located at 1.4609. With this being close to the 61.8% pullback level of 1.4605 and the point of control (PoC0 from Wednesday the 2nd of August and Friday the 4th of August, we would look for this zone (1.4623-1.4603) to stem any selling interest this week.

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