Eurcadlong
EURCAD hitting Support?Hello Traders,
Bullish Divergence has formed on the EURCAD 8H MACD/Price Chart and the price may begin to rise. The pair is bouncing of a recent support formed around 1.5050 and RSI is also being rejected at a recent support.
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*The above is not investment advice but simply my analysis of the current market conditions*
EURCAD at a key level of supportLooking at the weekly timeframe we see after pushing to the upside and closing back above 1.5060, EURCAD has been holding at this zone for weeks.
Last week EURCAD had a strong bullish rally back up to 1.538 before falling back down to 1.5060. If structure can hold at this zone we can look for price to push back to the upside, retesting the 1.5532 zone.
If you have any questions please feel free to comment below.