- Bullish Bat Pattern seen on EUR/CAD daily charts.
- The pair has edged higher from 1.4389 levels which is pivotal, weakness seen only on breaks below 1.4380.
- Retracement upto 1.5330 (61.8% Fib of 1.59145 to 1.43889 fall) likely.
- Disappointing wage negotiation results and recent weakness in Japanese economic data point to a high possibility of additional BOJ easing as early as April.
- BOJ Governor Kuroda said on Wednesday that exports and production are showing weakness, and repeated that the BOJ would ease without hesitation if needed.
- Immediate support and resistance for the pair are located at 1.4697 (200-DMA) and 1.4734 (5-DMA).
Recommendation: Buy dips around 1.4660/80, SL: 1.4380, TP: 1.4970/1.5150/1.5330
