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- EUR/CAD trades in a rising channel pattern and we see scope for further upside.
- The pair trades with a major bullish bias and momentum studies are also bullish.
- Price action holds above major moving averages and RSI is nicely converging with price action.
- MACD is above zero and biased higher which supports uptrend in the pair.
- We see scope for test of channel top at 1.6835 and we see bullish invalidation on decisive break below 200-DMA.
Support levels - 1.5514 (20-DMA), 1.4963 (200-DMA)
Resistance levels - 1.6105 (Jan 2018 high), 1.6835 (channel top)
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