EUR/CAD may rise to 1.5054 - 1.5138

1.4749 is our pivot point.

Our preference

The upside prevails as long as 1.4749 is support.

Alternative scenario

The downside breakout of 1.4749 would call for 1.4607 and 1.4523.

Comment

The RSI is above 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 1.4797 and 1.4718). Finally, the EUR/CAD has crossed above its upper Bollinger band (1.4876).

Supports and resistances

1.5307 **

1.5223 *

1.5138 **

1.5054

1.4879 last

1.4804

1.4749 **

1.4607 *

1.4523 **

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