EURAUD and EURCAD are trading alike, both trading bearish and now unfolding a three-wave corrective recovery which can be labelled as wave 2 of a bigger upcoming impulse. Once wave 2 fully develops, that is when more weakness will follow in favor of Aussie, and in favor of commodity currencies, which are already stronger that the euro.
Resistance for EURAUD is at 1.623 level, while EURCAD can see limited upside near the 1.530/1.545 region.
EURAUD, 1h
EURCAD, 1h
