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EURCAD recently reversed up from the support area lying between the pivotal support level 1.46700 (which has been reversing the price from the start of May) and the lower daily Bollinger Band. The upward reversal from this support zone stopped the previous intermediate impulse wave (5). Given the strength of the support level 1.46700 – EURCAD currency pair can be expected to rise further toward the next resistance level 1.4820 (top of the previous waves A and (C)).
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