August 21, 2020 at 03:25PM

• EURCAD broke support level 1.5600

• Likely to fall to 1.5460

EURCAD recently broke below the support level 1.5600 (low of the (a)-wave of the active short-term ABC correction 4 from the end of June – which started from the powerful resistance 1.6)

The breakout of the support level 1.5600 continues the active short-term impulse wave (c) – which belongs to the aforementioned ABC correction 4.

EURCAD is likely to fall further toward the next support level 1.5460 (target for the completion of the active wave (c)).

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From: The FxPro Tech Analysis Team
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