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EUR/CAD chart on Trading View used for analysis
- EUR/CAD breaks above daily cloud, scope for further gains.
- The pair has erased some gains after hitting session highs at 1.5123.
- The single currency under pressure after data showed German and Spanish inflation numbers missed expectations.
- Further, ECB financial stability report, published earlier today said downside risks to global growth outlook are more pronounced and Euro-area financial stability environment has become more challenging.
- Technical studies are biased higher. RSI and Stochs support upside.
- Bullish continuation eyes 200-DMA at 1.5293. Break below daily cloud negates bullish bias.
For details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.
