EURCAD Price Update – Clean & Clear Explanation

Sep 13

EURCAD is showing signs of a bullish recovery after holding the strong support area around 1.6039–1.6020. Price has built a series of higher lows and recently pushed strongly upward, breaking above the 1.6070–1.6080 key level, indicating improving bullish momentum.

The current price is now retesting the 1.6080–1.6090 zone. If buyers successfully defend this area and maintain the recent bullish structure, another move toward the 1.6120 resistance zone could develop, with the major upside target around 1.6140.

However, a rejection from the current key level could trigger a pullback toward 1.6057 and potentially the 1.6039 strong support. A sustained break below 1.6039 would weaken the bullish setup and bring 1.6020 back into focus.

Overall bias: Bullish recovery, but confirmation around the current key level remains important before the next upside expansion.

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Sep 17

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