EUR/CAD: buy target - 1.4000
- EUR/CAD reversed from support level 1.3750
- Next buy target - 1.4000
EUR/CAD today reversed up from the pivotal support level 1.3750 (former resistance level which has been reversing this currency pair from the middle of March, as you can see below). The support zone near 1.3750 is strengthened by the support trendline of the daily up channel from April and by the 38.2% Fibonacci Correction of the previous primary ABC correction ②.
Given the strength of the support level 1.3750, EUR/CAD is likely to rise further toward the next buy target at the resistance level 1.4000 (which stopped previous wave (2)).