EUR/CAD Price Forecast: Maintains position below nine-day EMA near 1.4900

• EUR/CAD may gain ground as the daily chart analysis suggests a mild bullish bias.
• The 14-day RSI maintains its position near the 50 mark, indicating neutral momentum.
• The pair tests initial resistance near the nine-day EMA at the 1.4895 level, aligned with the psychological level of 1.4900.

EUR/CAD continues to decline for the second consecutive session, trading near 1.4880 during Tuesday’s Asian session. Technical analysis on the daily chart suggests a mildly bullish bias, as the pair remains within an ascending channel pattern.

However, the 14-day Relative Strength Index (RSI), a key indicator of overbought or oversold conditions, is maintaining its position slightly below the 50 mark, indicating neutral momentum. A move above this level would confirm the ongoing bullish trend.