EURCAD may fall 63 - 91 pips
Our preference
As long as 1.3495 is resistance look for 1.3365.
Alternative scenario
Above 1.3495, look for 1.3542 and 1.3570.
Comment
The RSI is below its neutrality area at 50. The MACD is above its signal line and positive. The break above the 50 area on the RSI would call for further upside. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 1.3457 and 1.3456).
Daily and weekly charts are also bearish.
Our preference
As long as 1.3495 is resistance look for 1.3365.
Alternative scenario
Above 1.3495, look for 1.3542 and 1.3570.
Comment
The RSI is below its neutrality area at 50. The MACD is above its signal line and positive. The break above the 50 area on the RSI would call for further upside. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 1.3457 and 1.3456).
Daily and weekly charts are also bearish.