EURCAD Wave Analysis – 22 March 2023

• EURCAD broke resistance level 1.4760

• Likely to rise to resistance level 1.4925

EURCAD currency pair recently broke above the resistance level 1.4760 (top of the previous minor impulse wave (i) from the start of March).

The breakout of the resistance level 1.4760 should accelerate the active impulse wave (iii) which is a part of the higher order impulse wave 5 from February.

Given the strong daily uptrend, EURCAD currency pair can then be expected to rise further toward the next resistance level 1.4925, coinciding with the daily up channel from February.