The EUR/CAD has been facing strong downside pressures since the 09th of June, 2015, with some minor bullish break-outs occuring within the overall tensed bearish activity.
In the scenario where the price appreciates, bulls could take advantage of three probable take profit target levels, the 1.3973, 1.4054 and 1.4182 respectively.
Alternatively, in the condition where the downside pressures increase further, then the currency pair could drop as low as 1.3794 and even lower.
Please note: The content in this daily technical analysis article should not be taken as investment advice. It comprises our personal view.