Technical analysis

EURCAD Wave Analysis – 10 February 2023

 • EURCAD broke support level 1.4350

• Likely to fall to support level 1.4230

EURCAD currency pair recently broke the support level 1.4350, which stopped the previous minor correction (ii) earlier this month.

The breakout of the support level 1.4350 accelerated the active short-term correction (ii).

Given the strongly bullish CAD sentiment on sharp oil gains, EURCAD can be expected to fall further toward the next support level 1.4230 – followed by 1.4100.

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