EURCAD recently reversed down from resistance zone lying between the strong resistance level 1.4690 (which has been reversing the price from September), upper daily Bollinger Band and the 50% Fibonacci correction of the previous downward impulse from August.
The downward reversal from this resistance area stopped the earlier short-term impulse wave 1.
EURCAD is expected to fall further and retest the next support level – 1.4450 (low of the previous wave (ii) from the end of October).
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