EURCAD Wave Analysis 12 March, 2021

• EURCAD reversed from resistance level 1.5070

• Likely to test support level 1.4800

EURCAD recently reversed down from the resistance level 1.5070 (former support from April, May and June of 2020).

The resistance zone near the resistance level 1.5070 was strengthened by the lower trendline of the recently broken down channel from December.

EURCAD is likely to fall further toward the next support level 1.4800 (target price for the competition of the active multi-month impulse wave C).