• EUR/CAD initially dipped but recovered some ground as investors assessed messages the day before from the Bank of Canada central bank cut interest rates.
• A dovish Bank of Canada, despite offering no forward guidance left the loonie vulnerable to further euro strength.
• On Wednesday, Canada’s central bank trimmed its key interest rate to 2.5%, a three-year low, marking its first rate cut since March and leaving the door open for more reductions should downside risks intensify.
• Adding to headwinds for the loonie, the price of oil was down 0.9% at $63.48 a barrel. Oil is one of Canada's major exports.
• Technical are bullish, daily RSI is bullish at 60, daily momentum studies 14 and 21 DMAs are trending up.
• Immediate resistance is located at 1.6350(23.6%fib), any close above will push the pair towards 1.6384(Higher BB).
• Support is seen at 1.6167(SMA 20) and break below could take the pair towards 1.6080(38.2%fib).
Recommendation: Good to buy around 1.6250 , with stop loss of 1.6150 and target price of 1.6350


FxWirePro: GBP/USD recovers but bears are not done yet again
NZDJPY Technical Outlook: Bearish Bias Deepens as Key Resistances Hold
FxWirePro- Major Crypto levels and bias summary
FxWirePro: EUR/ NZD loses momentum but outlook is bullish
FxWirePro: USD/JPY neutral in the near-term, scope for downward resumption
FxWirePro- Major Pair levels and bias summary
AUDJPY Pullback Intensifies: Resistance at 110.00 Signals Short Opportunity
FxWirePro: USD/ZAR fibo rejection triggers sizeable pullback
Yen Resurgence Drives GBPJPY to 2.5-Week Low: Sellers Aim for 208.00
Bitcoin Recovers Amid Easing Geopolitics: Bulls Target USD 80,000 Support Rebound
FxWirePro: GBP/AUD runs out of steam but maintains bullish outlook
FxWirePro: USD/ZAR loses momentum but outlook is bullish
FxWirePro- Major European Indices
FxWirePro- Major Pair levels and bias summary
FxWirePro: GBP/USD gains some upside momentum but still bearish 



