Categories: 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.

The FxPro Tech Analysis Team

The FxPro technical experts prepare a daily analysis of the most active currency pairs (majors, crosses, exotics) and commodities. Selected instruments are reviewed on daily trends (D1, H4), using the active Elliott Wave setups, Japanese candlesticks, indicators, and support/resistance levels.

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The FxPro Tech Analysis Team
Tags: EURCAD

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