EURCAD currency pair recently reversed up from the support zone lying between the multi-month support level 1.42540 (which stopped the sharp weekly downtrend at the start of 2020 as can be seen from the weekly EURCAD chart below), strengthened by the lower weekly Bollinger Band. The upward reversal from this support zone will most likely form the weekly Hammer. Given the strength of the aforementioned support zone and the strong CAD outflows, EURCAD currency pair can be expected to rise further toward the next resistance level 1.44600 (top of the previous correction 2).