EUR/CAD: Daily
How low can EUR/CAD go? The pair has been selling off strongly in the past few months yet it appears to be testing an area of interest on its daily forex time frame. Price is stalling around the 38.2% Fibonacci retracement level, which lines up with a former resistance zone and the 1.4100 major psychological support. At the same time, stochastic is indicating oversold conditions, which means that euro bulls are getting ready to charge. In that case, EUR/CAD might bounce from its current levels and possibly test the recently broken support near 1.4500.
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