EURCAD recently reversed up from the pivotal support level 1.5065 (which stopped the two previous waves 2 and (a), as can be seen below), standing near the lower daily Bollinger band and the 50% Fibonacci retracement of the previous sharp upward impulse wave 1 from the middle of February. With the moderately bullish Euro sentiment seen across the markets today – EURCAD is likely to extend the gains toward the next resistance level 1.53000 (top of the previous short-term correction (b) from the middle of May).