EUR/CAD intraday: below its lower Bollinger band
1.4619 is our pivot point.
Comment:
the RSI is below its neutrality area at 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the pair stands below its 20 and 50 MAs (respectively at 1.4584 and 1.4583). Finally, the EUR/CAD is trading below its lower Bollinger band (standing at 1.4576).
Alternative scenario:
the upside breakout of 1.4619, would call for 1.4670 and 1.4701.
Our preference:
the downside prevails as long as 1.4619 is resistance.
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