• EUR/CAD rose on Wednesday as the temporary calm brought by the Israel-Iran truce bolstered investor appetite for risk.
• A day after Israel and Iran signaled a halt to their airstrikes, the ceasefire arranged by U.S. President Donald Trump appeared to remain intact.
• Data published on Wednesday showed that French consumer confidence remained unchanged at 88 in June, disappointing expectations for a slight rise to 89..
• The reading indicates that French households continue to exercise caution amid ongoing concerns over inflation, job security, and the broader economic outlook.
• Technical highlight upside risks for EUR/CAD, with momentum studies, 5, 10 and 11 DMAs tracking north.
• Immediate resistance is located at 1.5980(23.6%fib), any close above will push the pair towards 1.6031(Higher BB).
• Support is seen at 1.5918(Daily low) and break below could take the pair towards 1.5860(38.2%fib).
Recommendation: Good to buy around 1.5940 , with stop loss of 1.5860 and target price of 1.6080
