EUR/CAD may rise 27 - 39 pips

1.4801 is our pivot point.

Our preference

The upside prevails as long as 1.4801 is support.

Alternative scenario

The downside breakout of 1.4801 would call for 1.4780 and 1.4768.

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 1.4817 and 1.4819).

Supports and resistances

1.4885 **

1.4873 *

1.4861 **

1.4849

1.4822 last

1.4809

1.4801 **

1.4780 *

1.4768 **

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