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EUR/CAD broke resistance zone

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  • EUR/CAD broke resistance zone
  • Next buy target - 1.5720

EUR/CAD continues to rise after the earlier breakout of the resistance zone lying at the intersection of key resistance level 1.5400 (which stopped the previous impulse wave (1), as can be seen from the daily NZD/USD chart below) and the 38.2% Fibonacci correction of the previous ABC correction from the middle of March. EUR/CAD is expected to rise further toward the next buy target at the next resistance level 1.5720 (top of wave (B)).

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