EURCAD Wave Analysis – 28 January, 2022

• EURCAD reversed from support zone

• Likely to rise to resistance level 1.4350

EURCAD recently reversed up once again from the support zone lying between the key support level 1.4176 (which has been reversing the price from November) and the lower daily Bollinger Band.

The upward reversal from this support zone stopped the earlier minor impulse wave (iii).

Given the strength of the aforementioned support zone – EURCAD can be expected to rise further toward the next resistance level 1.4350 (top of the previous corrections (iv) and (ii)).