Technical analysis for EUR/CAD is showing that the price broke below the key support at 1.5050, confirming the 3rd weekly bearish wave. The first target of this bearish weekly wave is at 1.272 FIB extension at 1.4930 (was already reached), the second target is at 1.618 FIB extension at 1.4700, and the third target is at 1.4265. On the way down, the price is facing dynamic support, ascending trend line that we must watch for support. Break below that trend line will send the price toward 1.4265.
On the weekly chart, the pair closed with a low-test candle signaling a potential pullback. If this pullback pushes the price toward the key resistance at 1.5050, we should watch it for rejection and resumption of the bearish trend.