EURCAD making a steady move since last week, is dropping -0.22% for the day as of writing. Trapped inside the wedge pattern in the daily time frame, EURCAD reaches April last low at 1.50120,forming new low for the week. On the release front, Canada’s current account deficit narrowed to C$17.3 billion, lower than the forecast of C$18.1 billion. Early today Euro experienced negative CPI which was released as 0.8% vs 1.1%. The negative outcome and the positive Canada economics, pulled the pair downside en route 1.5000 and break below this region may take the pair up to the wedge support at 1.49500.
