• EURCAD reversed from resistance level 1.3200
• Likely to fall to support level 1.3000
EURCAD currency pair recently reversed down from the resistance level 1.3200, intersecting with the upper Bollinger Bond and the 38.2% Fibonacci correction of the downward impulse from June.
The downward reversal from the resistance level 1.3200 stopped the earlier short-term correction 2.
Given the strong long-term downtrend and moderate euro bearishness – EURCAD can be expected to fall further toward the next round support level 1.3000.
Source: Fxpro
