FxWirePro: EUR/CAD stuck in range but maintains bullish bias

• EUR/CAD edged higher   on Monday but gains were limited as investors await the Fed and ECB policy decisions this week.

• The U.S. Federal Reserve is widely expected to cut interest rates by a quarter percentage point at its Wednesday meeting, with bets amplifying after Friday's softer-than-expected inflation report.

• The European Central Bank is expected to keep interest rates unchanged at its policy meeting later this week as officials assess the impact of previous tightening on inflation and growth.

• German business morale improved in October, according to a survey released on Monday, though ongoing trade challenges continued to weigh on Europe’s largest economy.

•The Ifo Institute reported that its business climate index rose to 88.4 in October from 87.7 in September, indicating a modest improvement in sentiment.
 
•  Immediate resistance is located at 1.6301 (SMA 20), any close above will push the pair towards 1.6440(23.6%fib).

•  Support is seen at 1.6231(38.2%fib) and break below could take the pair towards 1.6165(Lower BB).

Recommendation: Good to buy around 1.6270 , with stop loss of 1.6220 and target price of 1.6350