EURCAD currency pair recently reversed down from the resistance area located between the pivotal resistance level 1.51000 (previous monthly high from July), upper daily Bollinger Band and the 38.2% Fibonacci correction of the extended downward price move from December to May. Given the prevailing downtrend and the latest reversal of the predominantly bearish CAD sentiment – EURCAD currency pair can be expected to fall further toward the next support level 1.49250 (previous resistance level which stopped the earlier minor correction (b) at the strata of this month).