EURCAD currency pair recently reversed down from the key resistance level 1.46200 (former monthly high from December), intersecting with upper daily Bollinger Band and the 50% Fibonacci correction of the previous sharp downward impulse from September. The downward reversal from the resistance level 1.46200 stopped the previous short-term ABC correction (ii). Given the strength of the aforementioned resistance level 1.46200 and the strongly bullish CAD sentiment seen today– EURCAD currency pair can be expected to fall further toward the next support level 1.44000.