EUR/CAD on thin rope? Flowing below EMA20

FXstreet.com (Chicago) - EUR/CAD continues trading glued to immediate support ahead of the ECB interest rate decision due during the European trading session. Canada will release unemployment data later this week leaving most influential factors to today’s market participants’ reactions to the ECB’s determination.

EUR/CAD Technical Levels

Price action reveals the pair extends retracement and remains below the 1.41 zone hanging on above the 1.4080 front. Offered at 1.4083, the pair oscillates between the supports aligned at 1.4062 (October 20th lows), 1.3942 (October 16th lows) ahead of 1.3827 (September 24th lows) and the resistances set at 1.4123 (November 5th highs), 1.4176 (November 1st highs) followed by 1.4241 (October 22nd highs). According to the FXstreet.com, the pair is strongly bearish on one-hour timeframe analysis and trades below the EMA20.