EURCAD currency pair recently broke through the key resistance level 1.35450 (which stopped the previous upward wave (a) at the start of June). The breakout of the resistance level 1.35450 accelerated the active minor ABC correction 2 from the start of this month. Given the strongly bearish CAD sentiment seen across the FX markets today (on oil losses), EURCAD currency pair can be expected to rise further toward the next resistance level 1.37500 (which has been reversing the price from the start of April, the target for the completion of the active wave 2).