Upside risks have continued to dominate the common European currency against the Canada Dollar since the beginning of March. The currency pair was guided by the 100– hour simple moving average.
Given that the exchange rate is currently trading near the lower boundary of an ascending channel pattern, a breakout might occur within the following trading sessions.
However, if the ascending channel pattern holds, the EUR/CAD currency exchange rate will most likely continue its bullish momentum within this week’s trading sessions.
