EURCAD approaching resistance, potential drop! EURCAD is approaching our first resistance at 1.5090 (horizontal pullback resistance, 61.8% Fibonacci retracement, 61.8% Fibonacci extension) where a strong drop might occur below this level pushing price down to our major support at 1.4942 (horizontal pullback support, 50% Fibonacci retracement).
RSI (34) is approaching resistance and we might see a corresponding drop in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
