EUR/CAD technical analysis:

You know things are going badly for your currency when the euro is making 5-month highs against it.

EUR/CAD has risen in four consecutive days. The story is oil as crude prices hurt the Canadian economy but make it cheaper for European imports.

The pair is testing an interesting level today in the late-Fed high of 1.4331. The high so far is 1.4329.

If it breaks, the inverted head and shoulders pattern on the chart targets a continued rise to the January high of 1.4491 or even the December high of 1.4652.

EURCAD daily