EUR/CAD may rise 40 - 58 pips

Our pivot point is at 1.4895.

Our preference

Rebound towards 1.4981.

Alternative scenario

Below 1.4895, expect 1.4866 and 1.4849.

Comment

The RSI is below 50. The MACD is negative and above its signal line. The configuration is mixed. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 1.4926 and 1.4935).

Supports and resistances

1.5015 **

1.4998 *

1.4981 **

1.4963

1.4923 last

1.4906

1.4895 **

1.4866 *

1.4849 **

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