EUR/CAD may rise to 1.4991 - 1.5074

Our pivot point is at 1.4686.

Our preference

The upside prevails as long as 1.4686 is support.

Alternative scenario

The downside breakout of 1.4686 would call for 1.4547 and 1.4463.

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 1.4769 and 1.4707).

Supports and resistances

1.5241 **

1.5158 *

1.5074 **

1.4991

1.4819 last

1.4741

1.4686 **

1.4547 *

1.4463 **

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