EUR/CAD approached support level 1.4830

EUR/CAD approached support level 1.4830

  • EUR/CAD approached support level 1.4830
  • Next sell target - 1.4600

EUR/CAD continues to fall sharply after the recent breakout of the round support level 1.5000 (which reversed earlier wave 4 and which was set as the sell target in our previous forecast for this currency pair). The breakout of the support level 1.5000 strengthened the bearish pressure on this currency pair. The price is currently trading close to the support level 1.4830 (low of wave 2 from May). If the pair breaks below the support level 1.4830 –GBP/USD can then be expected to fall to the next sell target at the next support level 1.4600 (previous monthly high from March).

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