EURCAD: With EURCAD turning ahead of its key resistance at the 1.5585 level to close lower the past week, further weakness is likely in the new week. This view remains valid while the cross holds and trades below the mentioned resistance zone.

Support comes in at 1.4700 level with a cut through here opening the door for more weakness towards the 1.4613 level. Further down, on continued bear pressure the 1.4500 level will be targeted where a violation will turn attention to the 1.4400 level.

Its weekly RSI is bearish and pointing lower suggesting further weakness.  On the upside, resistance lies at the 1.4850 level followed by the 1.4900 level. Further down, resistance is seen at the 1.4950 level and subsequently the 1.5000 level.

All in all, EURCAD remains biased to the downside on price failure