Technical analysis

EURCAD Wave Analysis – 28 June, 20211

• EURCAD reversed from support level 1.4680

• Likely to rise to resistance level 1.4800

EURCAD currency pair recently reversed up from the support level 1.4680 (which has been repeatedly reversing the price from May), lower daily Bollinger Band and the 61.8% Fibonacci correction of the upward ABC correction (4) from May.

The upward reversal from the support level 1.4680 stopped the previous medium-term impulse wave (5).

EURCAD can be expected to rise further toward the next resistance level 1.4800 (which stopped earlier waves (iv), A, (iii) and (4)).

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