• EUR/CAD dipped on Monday as France’s political uncertainty continued to weigh on euro
• Macron reappointed Sébastien Lecornu as prime minister on Friday and unveiled a largely unchanged cabinet on Sunday.
• Macron dismissed resignation calls on Monday and criticized opponents as his new government faced two no-confidence motions this week.
• France faces its deepest political crisis in decades, with minority governments struggling to pass deficit-cutting budgets through a sharply divided parliament.
• On the data front, The eurozone’s data calendar is light this week, featuring industrial production, trade data, final September HICP, and Germany’s ZEW survey.
• Immediate resistance is located at 1.6289(SMA 20), any close above will push the pair towards 1.6395(23.6%fib ).
• Support is seen at 1.6218 (38.2%fib) and break below could take the pair towards 1.6165(Lower BB).
Recommendation: Good to sell around 1.6260 , with stop loss of 1.6320 and target price of 1.6200
