EURCAD

Key Indicators

• The currency pair bulls maintained control with a powerful bullish continuation candle, but the price is approaching a key red horizontal resistance zone at 1.6270. Watch for a healthy correction.

Fundamental Context

The EUR/CAD general trend remains upward, but its attempts to move higher have been limited following the recent pullback. Looking ahead, the sustainability of any gain in the pair this week will largely depend on the release of Canadian retail sales data and geopolitical developments.