The EUR/CAD currency pair has reaffirmed its bearish stance as it recently dipped below the 1.4600 level. This move suggests a potential resurgence of the downward trend, with a target of 1.4510. Additionally, the stochastic indicator falling below the 50 level further supports the likelihood of negative momentum building up. This indicates a continuation of bearish attempts, with a potential target at the 1.4460 level in the near future, followed by renewed pressure on the MA55 at 1.4370.
Projected Trading Range and Trend
Today’s anticipated trading range for the EUR/CAD pair is expected to fluctuate between 1.4600 and 1.4460, with a bearish trend prevailing throughout the day.