FxWirePro: EUR/CAD advances as France suspends pension reform

• EUR/CAD strengthened  on Tuesday as   euro gained some traction after the French government announced the proposed suspension of a landmark pension reform.

• French PM Sébastien Lecornu delayed the 2023 pension reform until after the 2027 election amid pressure from leftist lawmakers.

• Lecornu, facing two no-confidence votes this week, announced the move in parliament in a final effort to secure support for the 2026 budget..

• Meanwhile, German investor sentiment rose less than expected in October, held back by weak economic activity and continued delays in the country’s recovery, a survey showed Tuesday.

•The ZEW institute reported that its economic sentiment index rose to 39.3 in October from 37.3 in September, missing analysts’ forecast of 41.0.
 
• Immediate resistance is located at 1.6388 (23.6%fib), any close above will push the pair towards 1.6417(Higher BB ).

• Support is seen at 1.6217 (38.2%fib) and break below could take the pair towards 1.6172(Lower BB).

Recommendation: Good to but   around 1.6280 , with stop loss of 1.6200 and target price of 1.6370