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EURCAD: ⬇️ Sell
– EURCAD reversed from long-term resistance level 1.5840
– Likely to fall to support level 1.5400
EURCAD currency pair recently reversed down from the long-term resistance level 1.5840 (which has been reversing the price from the start of 2020) standing close to the upper daily Bollinger Band and the resistance trendline of the weekly up channel from 2022.
This is the 3rd consecutive failure to break above the major resistance level 1.5840 by this currency pair from the start of this year.
Given the strength of the resistance level 1.5840, overbought weekly Stochastic and the bullish Canadian dollar sentiment seen today, EURCAD currency pair can be expected to fall to the next support level 1.5400.
Source: https://fxpro.news
