After the super sell trade of last week that hit the target, the 1.4670/80 area is holding as resistance on the Daily. Euro went higher today with the ECB rate decision and ECB President Draghi’s speech. The April 24 gap at 1.4465 was also closed with last week’s sell-off. A daily close below this level should open up to 1.4080 and a close back above the confluence of resistance at 1.4670 area will focus my attention higher and negate my bearish outlook. Let’s see where the CAD news will take us with this pair.

EURCAD DAILY - 20 JULY

Source: MARYNA

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