EUR/CAD may rise to 1.4980 - 1.5065

Our pivot point stands at 1.4676.

Our preference

The upside prevails as long as 1.4676 is support.

Alternative scenario

The downside breakout of 1.4676 would call for 1.4533 and 1.4448.

Comment

The RSI is above 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 1.4727 and 1.4698).

Supports and resistances

1.5236 **

1.5150 *

1.5065 **

1.4980

1.4806 last

1.4732

1.4676 **

1.4533 *

1.4448 **

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