• EUR/CAD eased on Tuesday as market awaited fresh cues from ongoing EU–U.S. trade talks.
• Despite having finalized only a handful of deals, the U.S. is engaged in ongoing talks with several major trading partners seeking to avert threatened tariffs.
• As the August 1 U.S. deadline neared, the likelihood of a trade agreement with the EU seemed to be slipping, leading European nations to intensify preparations for countermeasures.
• Signs of progress were limited, and diplomatic sources suggested that the gap between the two sides remained wide.
• Markets are also eyeing the ECB’s policy decision later this week, with traders widely expecting interest rates to remain unchanged.
• Immediate resistance is located at 1.6075 (July 16th high), any close above will push the pair towards 1.6139 (Higher BB).
• Support is seen at 1.5909(38.2%fib) and break below could take the pair towards 1.5876(Lower BB).
Recommendation: Good to buy around 1.5980 , with stop loss of 1.5900 and target price of 1.6080
