EUR/CAD may rise 41 - 60 pips

Our pivot point stands at 1.5063.

Our preference

The upside prevails as long as 1.5063 is support.

Alternative scenario

The downside breakout of 1.5063 would call for 1.5030 and 1.5011.

Comment

The RSI is above 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 1.5084 and 1.5081).

Supports and resistances

1.5200 **

1.5180 *

1.5161 **

1.5142

1.5101 last

1.5076

1.5063 **

1.5030 *

1.5011 **

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