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• EUR/CAD strengthened on Monday after Trump backed off steep EU duties, aiding euro strength against Canadian dollar.
• On Sunday, following a call with Ursula von der Leyen, Trump decided to delay the threatened EU tariffs until July 9, allowing the EU additional time to finalize a trade deal.
• The news boosts investor confidence but underscores how rapidly U.S. trade policy can shift.
• At GMT 17:07,the euro was up 0.19% at 1.5632 against Canadian dollar.
• Immediate resistance is located at 1.5709(38.2%fib), any close above will push the pair towards 1.5768 (Higher BB).
• Support is seen at 1.5601 (50%fib) and break below could take the pair towards 1.5516(Lower BB).
Recommendation: Good to buy around 1.5610, with stop loss of 1.5550 and target price of 1.5680
