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EUR/CAD has edged lower from session highs at 1.5337, currently trading around 1.5275.
- The pair finds strong support at 1.5230 levels, which is rising trendline, breaks below could see weakness upto 1.5110.
- Price action is within the daily cloud and capped below 5-DMA at 1.5297. Breaks higher will find next resistance at 1.5413 (cloud top).
- Rebound in oil prices is likely to keep the loonie supported, raising scope for downside in EUR/CAD.
Recommendation: Good to go short on break below 1.5230, SL: 1.53, TP: 1.5140/10
