EUR/CAD reversed from key support level 1.5710

EUR/CAD reversed from key support level 1.5710

  • EUR/CAD reversed from key support level 1.5710
  • Next buy target - 1.6120

 

EUR/CAD continues to rise after the earlier upward reversal from the key support level 1.5710 (former resistance level which reversed the earlier minor impulse wave 3 in February, as can be seen from the daily EUR/CAD chart below). The upward reversal form this support area stopped the previous minor corrective wave (ii) from the start of March. EUR/CAD is expected to rise toward the next buy target at next resistance level 1.6120 (top of the impulse (i)).

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