• EUR/CAD strengthend on Monday as the euro added to gains after a strong run last week.
• The euro strengthened over the past week as Germany's major fiscal reforms improved the European growth outlook.
• Germany proposed a €500 billion special fund last week to boost infrastructure spending and plans to reform debt rules to increase defense funding.
•On the economic front, German industrial output rose in January but exports plunged, suggesting the outlook for the euro zone's largest economy remains anything but rosy.
•Investors awaited Germany's inflation data this week, a crucial indicator following escalating trade tensions with the U.S.
•At GMT 16:31, the pair was trading up 0.45 percent at 1.5643
• Immediate resistance is located at 1.5657(23.6%fib), any close above will push the pair towards 1.5717(Higher BB).
• Support is seen at 1.5493(38.2%fib) and break below could take the pair towards 1.5410(7th March low).
Recommendation: Good to buy around 1.5600 with stop loss of 1.5520 and target price of 1.5720
