EUR/CAD in a corrective stage

EUR/CAD in a corrective stage

2019-11-11 • Updated

The EUR/CAD pair is making a bearish correction from the resistance level of 1.5414. Such area is helping to cap further gains and we could expect some consolidation moves before to post a fresh high across the board. According to our Fibonacci’s forecast, the pair is finding support at the 50% Fibonacci level at 1.5307, at which a rebound should take it to test the -23.6% Fibonacci zone at 1.5465.

RSI indicator remains in the negative territory.

EURCADH1.png

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