FxWirePro: EUR/CAD drops as Middle East conflict rattles markets

• EUR/CAD weakened on Friday as Israel's widescale military strikes on Iran triggered a wave of risk aversion across global markets

• Heightened geopolitical tensions boosted demand for safe-haven assets, weighing on risk-sensitive currencies like the Australian dollar, New Zealand dollar.

• In contrast, the Canadian dollar gained support from a sharp rally in crude oil prices amid fears of supply disruptions.

• Rising Middle East hostilities added fresh uncertainty to financial markets, compounding global economic pressures already fueled by President Trump’s unpredictable trade policies.

• At GMT 16:56,the euro was down  0.37% at 1.5699 against Canadian dollar 

 •  Immediate resistance is located at 1.5792(Higher BB), any close above will push the pair towards 1.5944(23.6%fib).

•  Support is seen at 1.5692(38.2%fib) and break below could take the pair towards 1.5445(Lower BB).

Recommendation: Good to buy  around 1.5670 , with stop loss of 1.5530 and target price of 1.5750