EURCAD currency pair recently reversed up with the daily Hammer from the support zone lying between the key support level 1.36500 (which stopped the previous impulse wave (iii) at the start of April), intersecting with the support trendline of the daily down channel from last September and the lower daily Bollinger Band. The upward reversal from this support area
stopped the earlier impulse wave (v).

Given the strength of the aforementioned support zone – EURCAD currency pair can be expected to rise further toward the next resistance level 1.37500 (top of the previous correction(iv)).