EUR/CAD: sell target - 1.4400
By: Dmitriy Chernovolov
- EUR/CAD approached support level 1.4530
- Next sell target - 1.4400
EUR/CAD continues to fall inside the intermediate (B)-wave which started recently – when the pair reversed down with the daily Japanese candlesticks reversal pattern Falling Star from the resistance zone lying between the resistance level 1.4800 and the 38.2% Fibonacci correction of the previous sharp downward impulse from the end of February, as can be seen below.
The pair is currently trading close to the support level 1.4530 (which stopped the previous sharp primary impulse wave ③ from the end of February). If the price breaks trough the support level 1.4530 - EUR/CAD, will then, most likely, fall to the next sell target at 1.4400.