• EUR/CAD eased on Thursday as traders reacted to the latest Eurozone economic data release.
• Industrial output fell 1.3% on the month in June, driven by a big dip in Germany and weak consumer goods production, underperforming expectations for a 1.0% fall, data from Eurostat showed on Thursday.
• Separate data showed, GDP grew by 0.1% on the quarter, in line with a preliminary estimate, and employment rose just 0.1% on the quarter, in line with expectations , but below the 0.2% in the previous three months.
• US President Trump and Russian President Putin will meet in Alaska on Friday to discuss steps toward resolving the Ukraine conflict
• Immediate resistance is located at 1.6141(23.6%fib), any close above will push the pair towards 1.6203 (Higher BB).
• Support is seen at 1.6016 (38.2%fib) and break below could take the pair towards 1.5984 (SMA 20).
Recommendation: Good to buy around 1.6050 , with stop loss of 1.5950 and target price of 1.6120
