Technical analysis
EURCAD Wave Analysis – 1 September, 2022
September 01, 2022 @ 16:16 +03:00
![EURCAD Wave Analysis – 1 September, 2022 EURCAD Wave Analysis – 1 September, 2022](https://fxpro.news/wp-content/uploads/2020/05/euro1.jpg)
• EURCAD reversed from resistance level 1.3200
• Likely to fall to support level 1.3000
EURCAD currency pair recently reversed down from the resistance level 1.3200, intersecting with the upper Bollinger Bond and the 38.2% Fibonacci correction of the downward impulse from June.
The downward reversal from the resistance level 1.3200 stopped the earlier short-term correction 2.
Given the strong long-term downtrend and moderate euro bearishness – EURCAD can be expected to fall further toward the next round support level 1.3000.
![](https://fxpro.news/wp-content/uploads/2022/09/eurcad-primary-analysis-sep-01-1443-pm-1-day-1024x479.png)