EURCAD: Bounce or fall?

EURCAD, Daily

In the Daily timeframe, EURCAD started to fall sharply sideways and reached the lower boundary of the range. Momentum has fallen below 100.0, although %R shows oversold, which makes it necessary to consider two options.

• If the price breaks the lower boundary below 1.4900, the fall will be to 1.4750;

• A rebound from support will bring EURCAD back to 1.5050;