FxWirePro: EUR/CAD finds major support at 1.5065, weakness only on break below

EUR/CAD chart on Trading View used for analysis

• EUR/CAD trades 0.29% higher on the day at 1.5114 at 1040 GMT.
   
• The pair has edged higher from session lows at 1.5065 which is also major trendline support.
   
• Momentum still with the bears. RSI below 50, 5-DMA sharply lower and MACD supports downside.
   
• Price has dipped into daily cloud. Break below trendline support at 1.5065 to see test of 78.6% Fib at 1.4944.
   
• 200-DMA is major resistance at 1.5192. Retrace above 200-DMA at 1.5192 to see further upside.

Support levels - 1.5065 (trendline), 1.5031 (cloud base), 1.4944 (78.6% Fib)

Resistance levels - 1.5192 (200-DMA), 1.53 (38.2% Fib)

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