EURCAD Wave Analysis – 08 April, 2020

• EURCAD reversed from support area
• Likely to rise to 1.5400

EURCAD recently reversed up from the support area located between the key support level 1.5200 (former multi-month resistance level from the start of 2019) intersecting with the 38.2% Fibonacci retracement of the pervious upward impulse from the start of 2020.

This is the second time the pair reversed up from this support zone from the start of this year.

EURCAD is likely to rise further toward the next resistance level 1.5400 (former support from the end of March). Strong support remains at the support level 1.5200.