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EUR/CAD Threatening a Falling Trendline

The EUR/CAD has been falling from the 1.5581 high on the year in March. It has been trading in a falling channel as seen in the daily chart. You can also see that price found support at 1.4418. It should be noted that 1.4408 is the 2014-low, and the area around 1.44 is a key support/resistance area, probably seen better in the weekly chart, which is at the bottom of the page. 

In the daily chart just below, you can see price threatening to break above the channel resistance, last week's high of 1.4650, and the 50-day SMA. Also the RSI is approaching 60. A break above 60 in the daily RSI would reflect a loss of the bearish momentum made during the March-July decline.
This week could be key to whether the EUR/CAD will confirm the breakout, or return to its July consolidation, with a bearish bias because the prevailing downtrend since March would be intact. 

(EUR/CAD Daily Chart 8/4)

In the weekly chart, you see that there was an uptrend since the 2012-low of 1.2128. July's price action was essentially a test of the rising trendline since then, and the 50-week SMA. Price action dipped below both of these briefly, but is now returning above them, showing that bears do NOT have control. 
Also note that the weekly RSI is holding above 40. That shows maintenance of the bullish momentum established during the uptrend since 1.2128.

(EUR/CAD Weekly Chart 8/4)