CitiFX Technical Strategy Research notes that EUR/CAD has broken below the neckline of a head and shoulders top pattern.
In addition, Citi notes that the pair closed on a weekly basis back below the 55 and 200 week moving averages and also completed a bearish outside week.
"All this suggests renewed downside potential and a possible re-test of supports around 1.30 again," Citi argues.
EUR/CAD is trading circa as of writing
Source: CitiFX Technicals ResearchOriginal Article
