EUR/CAD Moves Lower

EUR/CAD has been trading to the downside for the past couple of days as the pair reached a low of 1.5920 starting from a high of 1.6140 in the early trading hours yesterday. Currently, price is trading at 1.5944 and as it seems, Euro bears are not yet done selling.

We can expect further move to the downside as selling pressure intensified today after bulls made a move to 1.6020 and then bears overcame the battle and again brought the price below the psychological level of 1.60.

Major bear target is expected at 1.55 while milestones before that point are the levels of 1.57 and 1.5620.

Chart: EUR/CAD H4