• EUR/CAD eased slightly on Wednesday as investors exercised caution ahead Federal Reserve's interest rate decision due later in the day.
• The Fed is widely expected to keep interest rates unchanged on Wednesday, with investor attention centered on signals about future policy amid economic uncertainty from U.S. tariffs.
• Markets reacted calmly to the election of German conservative leader Friedrich Merz as chancellor on Tuesday, following a second round of parliamentary voting after an unexpected initial defeat.
• At GMT 15 :53,the euro was down 0.20% at 1.5635 against Canadian dollar .
• Immediate resistance is located at 1.5694(38.2%fib), any close above will push the pair towards 1.5815(April 29th high).
• Support is seen at 1.5573(Lower BB) and break below could take the pair towards 1.5503(50%fib).
Recommendation: Good to buy around 1.5630, with stop loss of 1.5550, and target price of 1.5730
