• 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
