• EUR/CAD firmed on Tuesday as euro was supported by upbeat Euro zone business activity data.
• Euro zone business activity hit a 16-month high in September, but stagnant new orders raised doubts about the sustainability of growth, a survey showed.
• The HCOB flash Eurozone composite PMI rose to 51.2 in September from 51.0 in August, its ninth straight month of growth, slightly above the forecast of 51.1.
• Technical are bullish, daily RSI is bullish at 62, daily momentum studies 9 and 10 DMAs are trending up.
• Immediate resistance is located at 1.6339(38.2%fib), any close above will push the pair towards 1.6373 (Higher BB).
• Support is seen at 1.6249 (50%fib) and break below could take the pair towards 1.6194(SM A 20).
Recommendation: Good to buy around 1.6300, with stop loss of 1.6230 and target price of 1.6380
