EUR/CAD may fall 37 - 52 pips

1.4781 is our pivot point.

Our preference

The downside prevails as long as 1.4781 is resistance.

Alternative scenario

Above 1.4781, look for 1.4806 and 1.4821.

Comment

The RSI is below 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 1.4762 and 1.4766).

Supports and resistances

1.4821 **

1.4806 *

1.4781 **

1.4771

1.4760 last

1.4723

1.4708 **

1.4693 *

1.4678 **

Number of asterisks represents the strength of support and resistance levels.