• EURCAD broke support levels 1.4900 and 1.5000
• Likely to reach support level 1.4740
EURCAD continues to fall after the earlier breakout of the support levels 1.4900 and 1.5000 – which accelerated eth active minor impulse wave 5.
The active impulse wave 5 belongs to the intermediate downward impulse wave (C) from the end of December.
Given the strong downtrend – EURCAD is likely to fall further toward the next support level 1.4740 (former multi-month high from March).