The EUR / CAD pair rose during the Asian trading period on Monday with the start of the week, in light of the scarcity of Canadian data today.

On the other side of the Eurozone, we are waiting for the Eurogroup meeting today, and German inflation data will be released tomorrow.

Technically: the EUR / CAD pair rebounded during last week's trading from the resistance cluster level of 1.4760 / 80, and then climbed today to be retested again, as the pair is trading below the lower boundary levels of the broken ascending price channel.

We expect the pair to start retracing again towards the levels of 1.4700 and then 1.4630.

This scenario fails if the 1.4790 levels are broken upwards.