Outlook for EURCAD: Limited downside before bounce

Hey everyone, I am bullish on EURCAD on the larger time frames as prices have broke the previous resistance zones. On the H1, EURCAD is facing pressure from resistance and could see limited downside to test our support area here, in line with the fibonacci confluence levels before the bounce.

This week market will also be watching closely for BOC and ECB interest rates decision though we are not likely to expect any changes in the upcoming monetary policy meeting.