EURCAD: ⬆️ Buy
- EURCAD reversed the support level 1.6200
- Likely to rise to resistance level 1.6365
EURCAD currency pair recently reversed up from the support level 1.6200 (former monthly high from August, which has been reversing the price from the start of September, as can be seen below).
The support level 1.6200 was strengthened by the lower daily Bollinger Band and by the 50% Fibonacci correction of the upward impulse from September.
Given the clear daily uptrend, EURCAD currency pair can be expected to rise to the next resistance level 1.6365 (which reversed the previous impulse wave i).
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