EUR/CAD may fall to 1.4544 - 1.4677

Our pivot point stands at 1.5172.

Our preference

The downside prevails as long as 1.5172 is resistance.

Alternative scenario

The upside breakout of 1.5172, would call for 1.5396 and 1.5529.

Comment

The RSI is below 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 1.5017 and 1.5015).

Supports and resistances

1.5529 **

1.5396 *

1.5172 **

1.5084

1.4996 last

1.4677

1.4544 **

1.4411 *

1.4278 **

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