EUR/CAD may fall 44 - 57 pips

Our pivot point is at 1.4651.

Our preference

The downside prevails as long as 1.4651 is resistance.

Alternative scenario

The upside breakout of 1.4651, would call for 1.4674 and 1.4687.

Comment

The RSI is below 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 1.4652 and 1.4668).

Supports and resistances

1.4687 **

1.4674 *

1.4651 **

1.4642

1.4633 last

1.4589

1.4576 **

1.4562 *

1.4549 **

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