October 15, 2020 at 03:43PM
• EURCAD reversed from support level 1.5430
• Likely to rise to 1.5560
EURCAD today reversed up from the key support level 1.5430 (which stopped the previous correction A at the start of September, as can be seen below).
The support level 1.5430 was further strengthened by the lower daily Bollinger Band and the 61.8% Fibonacci correction of the upward impulse (1) from June.
EURCAD is likely to rise further toward the next resistance level 1.5560 (former multi-candle support from last month).
From: The FxPro Tech Analysis Team https://fxpro.news/market-snapshots/eurcad-wave-analysis-15-october-2020-20201015/
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