EURCAD has been falling strongly in the last few trading sessions inside the impulse wave (3), which started recently from the resistance area lying between the multi-month resistance level 1.47000 (which has been steadily reversing the price from September), upper daily Bollinger Band and the 50% Fibonacci correction of the previous downward impulse from August. Given the rising bullish Canadian dollar sentiment seen across the markets today, EURCAD is likely to extend the losses toward the next support level 1.44500 (which has been reversing the price from October).