• EUR/CAD rose sharply on Monday as euro rose sharply as investors ignored prospect of high U.S. tariffs.
• The prospect of high U.S. tariffs on goods from countries like China, Canada, Mexico, and the euro zone has raised concerns recently about a new wave of inflation.
• German business morale unexpectedly improved in January, with the Ifo institute's business climate index rising to 85.1 from 84.7 the previous month.
• At GMT 15:38 ,the euro was up 0.59% at 1.5107 against Canadian dollar ,its highest level since Nov 6th 2024 .
• Technical signals are bullish as RSI is heading up at 67, daily momentum studies 5, 9 and 1 DMAs are trending up.
• Immediate resistance is located at 1.5137(23.6%fib), any close above will push the pair towards 1.5178 (Higher BB).
• Support is seen at 1.5031(38.2%fib) and break below could take the pair towards 1.4946(50%fib).
Recommendation: Good to buy around 1.5080, with stop loss of 1.4900 and target price of 1.5200
