- EUR/CAD slips below 20-DMA at 1.5120, intraday bias lower.
- Bearish RSI divergence raises scope for downside, bears eyes 50-DMA at 1.4776.
- The pair is trading a narrow range on the day, with the day's high at 1.5089 and low at 1.5057.
- Technical indicators are biased lower, RSI and Stochs point south.
- Immediate support is seen at 1.4944 (50% Fib), violation there could see 1.4830 (May 11 low) and then 1.4810 (50-DMA).
Support levels - 1.5012 (June 9 low), 1.4969 (May 30 low), 1.4944 (50-DMA)
Resistance levels - 1.5120 (20-DMA), 1.5134 (5-DMA), 1.52, 1.5218 (61.8% Fib)
Recommendation: Good to go short on rallies around 1.5090, SL: 1.5140, TP: 1.5020/ 1.4970/ 1.4950
