The EUR/CAD Daily Chart shows trading within a rising channel

The EUR/CAD Daily Chart shows trading within a rising channel structure since early 2023, with the price respecting the upper and lower boundaries of this trend. Currently, the price is bouncing from a key support zone near 1.49, which aligns with the lower boundary of the rising channel.

- Key resistance is around the 1.512 area, where the price has repeatedly faced selling pressure.
- A breakout above this resistance could push EUR/CAD towards the channel's upper limit near 1.53.
- However, if bearish momentum continues, the price may retest the lower channel support around 1.48-1.475.

This technical setup suggests a balanced risk-to-reward ratio, with traders awaiting either a breakout or a rejection at key levels. It's a good time to monitor this pair for potential directional confirmation.