EURCAD recently reversed down from the key resistance level 1.5280 – strengthened by the 50% Fibonacci correction of the previous upward impulse from the end of November.
The downward reversal from this resistance level completed the previous short-term correction (ii) – which belongs to the impulse wave C from December.
EURCAD is expected to fall further and re-test the next round support level 1.5100 (low of the previous corrective (ii)).
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