EUR/CAD Is Bearish

After the move to the upside yesterday EUR/CAD reached a resistance at 1.4840, which is slightly above the (MA)89 indicator on the four-hour time-frame, formed a clear doji candlestick on the same time-frame and then sharply moved to the downside. The pair is still very bearish and it is currently testing the support at 1.4675. A breakout below that support level will likely lead to a further drop towards the last low, which is at 1.4652. The question is whether the pair will succeed in breaking out below that level as well. If it does, the next target on the way south will probably be at 1.4500, which is the (MA)89 indicator on the weekly time-frame.