FxWirePro: EUR/CAD capped at 200-DMA, upside only on break above

EUR/CAD chart - Trading View 

• EUR/CAD extends sideways grind, trades 0.02% lower on the day at 1.5096 at 0655 GMT.
   
• The pair fails to breakout above 110-EMA resistance, bias neutral to slightly bullish.
   
• Breakout attempts remain capped at 200-DMA and decisive break above required for further upside.
   
• Immediate support is seen at 1H 200-SMA at 1.5094, break below will see dips till 21-EMA at 1.5060.
   
• Break below 21-EMA will see major downside. While breakout at 200-DMA will be required for upside in the pair.

Data this week which could impact price action:
- ZEW Economic Sentiment Index (Tuesday 1000 GMT)
- Eurozone PMI data (Friday 0900 GMT)
- Canadian Retail Sales (Friday 1230 GMT)

Support levels - 1.5080 (5-DMA), 1.5060 (21-EMA), 1.5039 (20-DMA)
Resistance levels - 1.5103 (110-EMA), 1.5124 (cloud base), 1.5137 (200-DMA)

For details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.