EURCAD, Daily
![EURCADDaily.png](https://eu-images.contentstack.com/v3/assets/blt73dfd92ee49f59a6/blt67c9a5b0e565b86c/66a361316b64fa4a10028956/EURCADDaily.png)
In the Daily timeframe, EURCAD formed an expanding wedge pattern after a long-term sideways trend. The price reached a high from last year, testing the trend line. Despite the bullish momentum, the %R indicates overbought.
- If the bulls push the price above the resistance at 1.5000, the target will be 1.5150, corresponding to 161.8 Fibonacci;
- A rebound from the trendline will drop EURCAD to support at 1.4800;