EUR/CAD may rise 41 - 60 pips

Our pivot point stands at 1.4969.

Our preference

Rebound towards 1.5059.

Alternative scenario

The downside breakout of 1.4969 would call for 1.4938 and 1.4919.

Comment

The RSI is below 50. The MACD is above its signal line and negative. The configuration is mixed. Moreover, the price stands below its 20 and 50 period moving average (respectively at 1.5001 and 1.5024).

Supports and resistances

1.5096 **

1.5077 *

1.5059 **

1.5040

1.4999 last

1.4981

1.4969 **

1.4938 *

1.4919 **

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