EUR/CAD may rise 30 - 43 pips

1.4627 is our pivot point.

Our preference

The upside prevails as long as 1.4627 is support.

Alternative scenario

The downside breakout of 1.4627 would call for 1.4604 and 1.4591.

Comment

The RSI is above 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 1.4645 and 1.4644). Finally, the EUR/CAD has crossed above its upper Bollinger band (1.4653).

Supports and resistances

1.4727 **

1.4714 *

1.4700 **

1.4687

1.4657 last

1.4635

1.4627 **

1.4604 *

1.4591 **

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