The price line on EUR/CAD price chart started a significant bearish wave on February the third, 2023, as a result of this wave, EUR lost almost 2% of its value against CAD. The price line is now trending at almost 1.43710, located just above a support zone, indicated with light orange. RSI is also approaching overselling zone and MACD is showing possibility for an upcoming acceding wave. Traders can expect a bullish trigger in shorter time frames; then they can enter long positions heading to the resistance zones mentioned below.
• There is a resistance level at 1.43400 followed by resistance at 1.43185 and 1.42700
• There is a support level at 1.44620. Below, there is 1.45165 and 1.45800.
Note: We do not suggest any investment advice, and these analyses are just to increase the traders’ awareness but not a certain instruction for trading.
