EURCAD Chart Technical Outlook corrects higher, needs to hold 1.4630 to keep the count alive
Although the dip was bought into yesterday, the correction higher has been limited and sellers have returned overnight.
We are between support at 1.4624 and resistance at 1.4805.
Looking at the 4-hour chart and this move higher can be assessed as a fourth-wave correction.
Drilling down into the intraday chart and we have a 261.8% extension level located at 1.4827.
As long as the previous swing low of 1.4630 holds, this does offer the cross a mild bullish bias.