EUR/CAD eased slightly on Monday as investors focused on Germany's debt reform plans as Europe's biggest economy looks to boost spending and revive growth..
• German Chancellor-in-waiting Friedrich Merz announced on Friday that he had gained the essential support of the Greens for a substantial increase in state borrowing.
• The deal is expected to be approved by the outgoing parliament this week. It involves a 500 billion euro ($544 billion) fund for infrastructure and significant changes to borrowing rules.
•At GMT 14:41, the pair was trading up 0.07 percent at 1.5621
• Immediate resistance is located at 1.5752(23.6%fib), any close above will push the pair towards 1.5862(March 11th high).
• Support is seen at 1.5563(38.2%fib) and break below could take the pair towards 1.5500(Psychological level).
Recommendation: Good to buy around 1.5600 with stop loss of 1.5520 and target price of 1.5720
