FxWirePro: EUR/CAD breaks above daily cloud, intraday bias higher

EUR/CAD chart on Trading View used for analysis 

• EUR/CAD breaks above daily cloud, scope for further gains.
   
• The pair has erased some gains after hitting session highs at 1.5123.
   
• The single currency under pressure after data showed German and Spanish inflation numbers missed expectations.
   
• Further, ECB financial stability report, published earlier today said downside risks to global growth outlook are more pronounced and Euro-area financial stability environment has become more challenging.
   
• Technical studies are biased higher. RSI and Stochs support upside.
   
• Bullish continuation eyes 200-DMA at 1.5293. Break below daily cloud negates bullish bias. 

For details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.