EUR/CAD may rise to 1.5317 - 1.5447

Our pivot point stands at 1.4857.

Our preference

The upside prevails as long as 1.4857 is support.

Alternative scenario

The downside breakout of 1.4857 would call for 1.4639 and 1.4509.

Comment

The RSI is above its neutrality area at 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 1.5026 and 1.5023).

Supports and resistances

1.5708 **

1.5577 *

1.5447 **

1.5317

1.5044 last

1.4943

1.4857 **

1.4639 *

1.4509 **

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