EURCAD approaching resistance, potential drop!

FX:EURCAD   Euro / Canadian Dollar
EURCAD is approaching our first resistance at 1.5193 (horizontal overlap resistance, 61.8% fiboancci retracement) and a strong drop might occur below this level pushing price down to our major support at 1.5116 (Horizontal swing low support, 61.8% Fibonacci retracement ).
Stochastic (55,5,3) is also approaching resistance and we might see a corresponding drop in price should it react off this level.
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This analysis is provided as general market commentary and does not constitute investment advice.


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