- EUR/CAD rose 0.26% on Friday.
- A break and close below 1.4800 could signal further declines in the brief term.
The EUR/CAD pair saw a slight gain during Friday’s session, climbing 0.26% to reach 1.4825. However, despite this modest gain, the pair remains below its 20-day elementary moving average (SMA) after recently completing a bearish transition between the 20- and 200-day SMAs. As buyers attempt to regain the 20-day SMA, indicators suggest a fight, with the Relative Strength Index (RSI) regaining buying pressure and the Moving Average Convergence Divergence (MACD) pointing to increasing buying pressure and overall bullish momentum.
However, until the pair breaks above 1.4800, the short-term outlook remains negative. This crossover, combined with the incomplete recovery of momentum, suggests that further gains may be restricted.
