The EUR/CAD pair has been trending down since Tuesday, 13th of September 2015. The downward movement began from as high as 1.4902 to as low as 1.4662.
Taking into consideration that the pair is testing the previous support zone at 1.4666, the price could bounce back up. In the scenario that the buyers succeed in pushing the price to break above the level of 1.4754, the price could escalate up to 1.4783 and 1.4809 in extension.
Conversely, in the scenario where the sellers manage to resume their bearish pressures and break below the level of 1.4666, the price could decelerate to 1.4549.
Please note: The content in this daily technical analysis article should not be taken as investment advice. It comprises our personal view.