EUR/CAD may fall 42 - 61 pips

Our pivot point stands at 1.5026.

Our preference

As long as 1.5026 is resistance look for 1.4928.

Alternative scenario

Above 1.5026, look for 1.5059 and 1.5078.

Comment

The RSI is below 50. The MACD is above its signal line and positive. The break above the 50 area on the RSI should trigger further gains. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 1.4995 and 1.4997).

Supports and resistances

1.5078 **

1.5059 *

1.5026 **

1.5013

1.4989 last

1.4947

1.4928 **

1.4908 *

1.4889 **

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