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EURCAD Wave Analysis – 7 February, 2022

31829 eurcad wave analysis 7 february 2022 scaled

• EURCAD reversed from resistance level 1.4645

• Likely to fall to support level 1.4400

EURCAD currency pair recently reversed down strongly from the key resistance level 1.4645 (which has been reversing the price from May of 2021).

The resistance zone near the resistance level 1.4645 was strengthened by the upper daily Bollinger Band.

EURCAD currency pair can be expected to fall further toward the next support level 1.4400 (former resistance from the end of January, top of wave (a)).

Source: Fxpro

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