Technical analysis

EURCAD Wave Analysis – 29 June 2023


– EURCAD reversed from resistance level 1.4500

– Likely to fall to support level 1.4300

EURCAD currency pair recently reversed down from the key resistance level 1.4500 (top of the previous impulse wave (i)) intersecting with the upper daily Bollinger Band.

The downward reversal from the resistance level 1.4500 created the daily Japanese candlesticks reversal pattern Shooting Star Doji.

EURCAD currency pair can be expected to fall further toward the next support level 1.4300 (low of the previous waves (ii), (C)).

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