EURCAD recently broke the key resistance level 1.47000 (which has been reversing the price from September). –intersecting with the 50% Fibonacci correction of the previous downward impulse 1 from August. The aforementioned price level 1.47000 is acting as the support after it was broken. Given the closeness of this support level and the rising Euro bullishness seen across the markets – EURCAD is likely to remain under the bullish pressure and to rise toward the next resistance level 1.48600 (former resistance from the end of August).