EUR/CAD – Currency exchange rate forecast 06.06.2019: rebound

EUR/CAD - Currency exchange rate forecast 06.06.2019: rebound

Alternative scenario: the downside breakout of 1.5014 would call for 1.4961 and 1.4929.

Our pivot point stands at 1.5014.

Our preference: rebound.

Alternative scenario: below 1.5014, expect 1.4961 and 1.4929.

Comment: the RSI is above 50. The MACD is above its signal line and negative. The MACD must break above its zero level to trigger further gains. Moreover, the pair stands above its 20 MA (1.5064) but below its 50 MA (1.5069).

Supports and resistances:

1.5224 **

1.5192 *

1.5161 **

1.5129

1.5065 last

1.5035

1.5014 **

1.4961 *

1.4929 **