EUR/CAD broke resistance level 1.5660

EUR/CAD broke resistance level 1.5660

  • EUR/CAD broke resistance level 1.5660
  • Next buy target 1.6000

EUR/CAD continues to rise after the earlier breakout of the resistance level 1.5660 (which stopped the previous minor impulse wave 3 in February, as can be seen from the daily EUR/CAD chart below). The breakout of the resistance level 1.5660 coincided with the breakout of the resistance trendline of the wide daily up channel from last September. EUR/CAD is expected to rise further toward the next buy target at the next resistance level 1.6000.

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