EUR/CAD may rise 43 - 62 pips

1.4891 is our pivot point.

Our preference

Our next up target stands at 1.4983.

Alternative scenario

The downside breakout of 1.4891 would call for 1.4859 and 1.4841.

Comment

The RSI is above its neutrality area at 50. The MACD is negative and above its signal line. The MACD must break above its zero level to trigger further gains. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 1.4913 and 1.4913).

Supports and resistances

1.5020 **

1.5002 *

1.4983 **

1.4964

1.4921 last

1.4903

1.4891 **

1.4859 *

1.4841 **

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