The single European currency traded within the range of 1.5314/1.5065 against the Canadian during last week’s trading sessions.
All things being equal, the EUR/CAD exchange rate will most likely continue to trade in the descending channel pattern. Bearish traders could target the lower boundary of the channel pattern at the 1.4821 area within this week’s trading sessions.
However, technical indicators suggest that the currency exchange rate could continue to trade within range during the following trading sessions.
