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FxWirePro: EUR/CAD loses momentum but outlook is bullish

• EUR/CAD eased slightly from  four-and-a-half-year high on Wednesday after the Bank of Canada (BoC) trimmed its policy rate by 25 basis points to 2.75%.

• The Bank of Canada cut its key policy rate by 25 bps to 2.75%, warning of a new crisis as it sought to shield the economy from the potential damage of Trump's tariffs.

• Currency markets estimate a 45% chance of another 25-basis-point rate cut at the Bank of Canada's next announcement on April 16.

 •At GMT 15:21, the pair was trading down 0.95 percent  at 1.5867

•  Immediate resistance is located at 1.5836(23.6%fib), any close above will push the pair towards 1.5901(Higher BB).

• Support is seen at 1.5625(38.2%fib) and break below could take the pair towards 1.5516(March 10th low).

Recommendation: Good to buy around 1.5670 with stop loss of 1.5560 and target price of 1.5850

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