The euro currency is advancing strongly against the Canadian dollar as the pair continues to enjoy solid buying demand in the short-term. The EURCAD pair could rally sharply if the price holds recovers back inside a large broadening ascending wedge pattern, around the 1.4790 level. Continued price gains inside the wedge may lead to a coming price rally towards the 1.4880 area.
The EURCAD pair is only bullish while trading above the 1.4750 level, key resistance is found at the 1.4820 and the 1.4880 levels.
If the EURCAD pair trades below the 1.4750 level, sellers may test the 1.4700 and 1.4660 support levels.
