OPEC meeting regarding output has ended in stalemate. CAD will be sold off in response to this. EURUSD is also benefiting on medium term readjustment of DXY as momentum picks up. Therefore, EURCAD is a favourable long with the macroeconomic divergence.
Technicals align also
Multiple wick rejections on and support solid here. Short term formed also. indicates buyers ready to propel pair from the . Failed break of the also shows that momentum has weakned at this level.