Bulls in the EURCAD currency pair managed to resume growth, even rising to 1.6205 at one point, but so far without consolidating above. Sellers have already managed to pull back to 1.6175+/-. The week closed above 1.6175, which means that bulls may rise again to 1.6205. In case of a successful consolidation above 1.6205, bulls will have a real opportunity to continue rising to 1.6235. After surpassing 1.6235, the growth of EURCAD can continue to 1.6265 and 1.6295. If the bullish sentiment is lost and sellers consolidate below 1.6175, then they will have a chance to continue the decline to 1.6145 and 1.6115. In case of a successful breakthrough of 1.6115 downwards, they may continue moving to 1.6085 and 1.6050, and then it will be necessary to assess the situation based on the actual facts.
