• EUR/CAD hit two week high on Thursday as euro rose after the French government survived a confidence vote.
• French Prime Minister Sebastien Lecornu survived two no-confidence votes after securing last-minute support from the Socialist Party, a move that came in exchange for suspending President Emmanuel Macron’s disputed pension reform.
• Lecornu now faces weeks of tough parliamentary negotiations over the pared-down 2026 budget, during which his government remains vulnerable to being toppled at any moment.
•France is grappling with its deepest political crisis in decades, as successive minority governments struggle to push deficit-cutting budgets through a fractious parliament divided into three sharply opposed ideological blocs.
• On the data front,The Eurozone’s trade surplus narrowed to €1 billion in August, down from €3 billion a year earlier, according to data released by Eurostat on Thursday.
• Immediate resistance is located at 1.6415 (23.6%fib), any close above will push the pair towards 1.6449(Higher BB ).
• Support is seen at 1.6301 (SMA 20) and break below could take the pair towards 1.6158(38.2%fib).
Recommendation: Good to but around 1.6380 , with stop loss of 1.6320 and target price of 1.6480
