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• EUR/CAD firmed on Monday as investors positioned ahead of a week packed with central bank decisions.
• The European Central Bank's monetary policy decision is due on Thursday, with markets widely expecting it to keep rates on hold.
• Decisions from Sweden's Riksbank, the UK's Bank of England and Norway's Norges Bank are also expected this week.
• On the data front, Canada’s annual inflation rate held at 2.2% in November, unchanged from October, driven mainly by food prices rising at their fastest pace in over two years, Statistics Canada said on Monday.
• Separate data showed, Canadian factory sales dropped 1.0% in October from September, weighed down by weaker chemical and wood product sales, Statistics Canada said Monday.
• Immediate resistance is located at 1.6207(SMA 20), any close above will push the pair towards 1.6225 (38.2%fib).
• Support is seen at 1.6131(Daily low) and break below could take the pair towards 1.6081(50%fib).
Recommendation: Good to buy around 1.6180 , with stop loss of 1.6220 and target price of 1.6250
