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FX.co ★ EURCAD reacting below 1st resistance, potential for downside!

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Forex Analysis:::2021-08-04T07:06:39

EURCAD reacting below 1st resistance, potential for downside!

EURCAD is reacting below 1st resistance of 1.48983, in line with 100% Fibonacci extension. Prices are likely to fall to 1st support of 1.47605, in line with 127.2% Fibonacci extension. Alternatively, prices may rally to 2nd resistance of 1.49746, in line with 161.8% Fibonacci extension. Indicator supporting bearish reversal.

EURCAD reacting below 1st resistance, potential for downside!

Analyst InstaForex
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