• EUR/CAD initially gained but later retreated as markets awaited new catalysts to drive direction.
• In the euro zone, attention this week turns to key economic data. Retail sales and final PMI readings will offer fresh insight into consumer activity and business sentiment.
• Germany the bloc’s largest economy will release figures on factory orders, industrial production, and trade performance.
• Canada publishes trade and employment data. Bank of Canada Governor Tiff Macklem discusses the Financial Stability Report at a press conference on Thursday.
• Immediate resistance is located at 1.5734(38.2%fib), any close above will push the pair towards 1.5825(April 28th high).
• Support is seen at 1.5566(50%fib) and break below could take the pair towards 1.5501(Lower BB).
Recommendation: Good to buy around 1.5600 , with stop loss of 1.5520 and target price of 1.5680
