EUR/CAD Price Outlook: Stays Under Nine-Day EMA, Hovering Near 1.4900

EUR/CAD is likely to rise as the daily analysis shows a slight divergence.
On the 14th, the RSI remained near the 50 level, indicating moderate strength.
The pair tested the first resistance at 1.4895 near the 9-day EMA, parallel to the psychological level of 1.4900.
EUR/CAD fell for the second session and traded around 1.4880 in the Asian session on Tuesday. Analysis of the daily chart shows that the pair is still in an ascending channel, i.e. a slight trend.

However, the 14-day relative strength index (RSI), a key indicator of overbought or oversold conditions, remains below 50, indicating moderate strength. A break above this could signal a further uptrend.

If the RSI is above 50, traders could look for signs of bullish support, which could push EUR/CAD towards the 1.4950-1.5050 range, where the bulls could test the strength of the rally again.