- 1.4550 has been used as support a few times since the middle of September.
- Both currencies have struggled against the dollar of late.
EUR/CAD has pushed off the 1.4550 level on the lower timeframes as the EUR bounces back from a tough day on Tuesday.
On Tuesday the EUR/CAD fell 0.45% and against EUR/USD lost 0.47% of its value.
The Bank of Canada have recently turned more dovish of late after some poor data releases.
Also this afternoon we get the latest Ivey PMI release that could have a significant impact on the volatility this pair in the afternoon.
The ECB has already acted and new President Lagarde offered little in the way of insight at her speech the other day. Later in the session we could hear from ECB’s Hakkarainen but it is not clear whether the comments are on monetary policy.
Tomorrow we get the latest German industrial production figures and ECB economic bulletin. On Friday the big data point affecting this pair is the Candian employment figures.
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