FxWirePro: EUR/CAD eases as rising French political risks weighs on euro

• EUR/CAD eased   on Thursday as euro was dragged down by French political unrest and lackluster German data.

• On Thursday, French President Emmanuel Macron began searching for his sixth prime minister in less than two years, aiming to find someone who can navigate a budget through a crisis-stricken legislature.

• German exports unexpectedly dropped in August, hit by a steep fall in U.S. demand following Washington’s tariffs on European imports, official data showed on Thursday.

• Exports from Europe’s largest economy declined 0.5% in August compared with the previous month, according to data released by the federal statistics office on Thursday.
 
•  Immediate resistance is located at 1.6283 (38.2%fib), any close above will push the pair towards 1.6293(SMA 20).

•  Support is seen at 1.6188 (38.2%fib) and break below could take the pair towards 1.6159(Lower BB).

Recommendation: Good to sell around 1.6240 , with stop loss of 1.6350 and target price of 1.6160