EUR/CAD may rise 31 - 43 pips

Our pivot point is at 1.4831.

Our preference

As long as 1.4831 is support look for 1.4898.

Alternative scenario

The downside breakout of 1.4831 would call for 1.4811 and 1.4798.

Comment

The RSI is above 50. The MACD is positive and below its signal line. The pair could retrace. Moreover, the price is above its 20 and 50 period moving average (respectively at 1.4845 and 1.4828).

Supports and resistances

1.4923 **

1.4910 *

1.4898 **

1.4886

1.4855 last

1.4839

1.4831 **

1.4811 *

1.4798 **

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