• EURCAD broke key support level 1.4800
• Likely to test support level 1.4600
EURCAD falling strongly after the pair broke the key support level 1.4800 (which stopped the previous sharp impulse wave (iii) earlier this month).
The breakout of the support level 1.4800 accelerated the active impulse wave (c) of the sharp downward impulse wave C from last December.
EURCAD is likely to fall further toward the next support level 1.4600 (target price for the completion of the active impulse wave C).