Forex: EUR/CAD: outside day printed, downside scope?

FXstreet.com (San Francisco) - EURCAD traded a broad range between 1.2385 and 1.2494 Friday, and ended the NA session at 1.2400, just a few pips below its starting price. The 55-day EMA (1.2434) attracted sellers, as did the 38.2% Fibonacci resistance level at 1.2450 (1.2977/1.2126). Price may hold downside scope as the mentioned intraday range completely engulfed the range of the previous day, and as an outside day "Pin" has formed on the daily chart.