• 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


ETH Stands Alone Bullish; BTC, SOL, XRP, BNB Neutral
FxWirePro: USD/JPY holds steady near 162 as traders await fresh catalysts
GBPJPY Bullish Surge: Strong Pound Ignites Fresh Upside on Fed-BOE Policy Divergence as All EMAs Align
FxWirePro: USD/JPY uptrend loses steam, remains on bullish path
FxWirePro:EUR/NZD stuck In narrow ranges, focus on near term support
FxWirePro: GBP/NZD gains some upside momentum but still bearish
FxWirePro: GBP/NZD downtrend loses steam, remains on bearish path
FxWirePro:EUR/NZD dips below lower range, bearish bias increases
FxWirePro- Major Pair levels and bias summary
FxWirePro: GBP/USD under pressure despite UK's modest economic growth
FxWirePro: EUR/AUD neutral in the near term, scope for downward resumption
AUDJPY Bullish Surge: Strong Australian Dollar Fuels Fresh Upside as Pair Holds Above 113.50 and All EMAs Align
JPY Action Bias: CADJPY Turns Extremely Bullish While Other Pairs Hold Positive Ground
FxWirePro- Major Pair levels and bias summary
Major Pair Action Bias: NZDUSD Turns Bullish While Other Majors Stay Neutral
FxWirePro- Major Crypto levels and bias summary 



