EUR/CAD reversed from key resistance level 1.5200

EUR/CAD reversed from key resistance level 1.5200

  • EUR/CAD reversed from key resistance level 1.5200
  • Next sell target - 1.5000

EUR/CAD recently reversed down from the key resistance level 1.5200 (which also stopped the previous primary ABC correction ② in November, as can be seen from the daily EUR/CAD chart below). The resistance zone near the resistance level 1.5200 is strengthened by the upper daily Bollinger Band.  Given the strength of the resistance level 1.5200  and the clear bearish divergence on the daily Stochastic indicator - EUR/CAD is expected to fall to the next sell target at the round support level 1.5000.

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