FxWirePro: EUR/CAD rally continues as market focus shifts to German fiscal policy

• EUR/CAD rose to fresh four year high on Friday as the ECB's cautious approach to rate cuts and Germany's fiscal expansion plans continued to boosted euro. 

• The ECB cut interest rates again on Thursday but warned of  phenomenal uncertainty,  citing risks from trade tensions and rising defense spending on inflation.

• Germany’s conservatives and Social Democrats agreed to push for debt brake reforms to boost defense spending and proposed a €500 billion ($529 billion) infrastructure fund, leaders announced Tuesday.

• At GMT 15:19,the euro was up  0.98% at 1.5567 against Canadian dollar.

• Technical signals are bullish as RSI is heading down  at 78, daily momentum studies  5, 9 and 1 DMAs are trending up.
 
•  Immediate resistance is located at 1.5595(23.6%fib), any close above will push the pair towards 1.5681(Higher BB).

• Support is seen at 1.5541(38.2%fib) and break below could take the pair towards 1.5266 (50%fib).

Recommendation: Good to buy  around 1.5540 , with stop loss of 1.5450 and target price of 1.5680