Technical analysis

EURCAD Wave Analysis – 25 April 2023

• EURCAD under bullish pressure

• Likely to rise to resistance level 1.5090

EURCAD currency pair under the bullish pressure after the price broke the resistance level 1.4923 (which stopped the previous impulse wave 1 in the middle of March).

The breakout of the resistance level 1.4923 accelerated the active impulse wave 3 which belongs to the intermediate impulse wave (5) from February.

Given the clear daily uptrend, EURCAD can be expected to rise further toward the next resistance level 1.5090 (target for the completion of the active impulse wave 3).

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