EUR/CAD Price Analysis: Euro edges higher near 1.5600 as longer-term bias holds firm

EUR/CAD trades near the 1.5600 zone after gaining modestly on Monday’s session.
Bullish outlook supported by long-term trend indicators, despite short-term indecision.
Resistance levels are forming overhead while dynamic support from EMAs remains in play.

Patricio Martín FXStreet

The EUR/CAD pair ticked higher on Monday, trading around the 1.5600 area after the European session. While price action remained within the middle of the daily range, the pair showed signs of underlying strength, aligning with a broader bullish structure. Momentum signals remain mixed for now, though the longer-term trend bias continues to favor the euro over the loonie.

Technically, the EUR/CAD setup holds a bullish tone despite some neutral momentum signals. The Relative Strength Index sits near 49, showing a balanced market, while the Moving Average Convergence Divergence leans bearish with a soft sell signal. The Awesome Oscillator is neutral, and the Bull Bear Power indicator suggests a slight bias toward buying pressure, offering mild confirmation of demand.

Trend indicators are more decisive. The 100-day and 200-day Simple Moving Averages sit well below current levels and continue to rise, reinforcing the broader bullish framework. Similarly, the 30-day Exponential and Simple Moving Averages offer dynamic support just under spot. On the other hand, the 20-day SMA lies slightly above price and may act as initial resistance until momentum resumes.

Support levels are noted at 1.5638, 1.5633, and 1.5595. Resistance stands at 1.5675, 1.5676, and 1.5686. A break through the resistance zone could confirm continuation of the longer-term uptrend, while failure to hold support may result in a short-term pause or retracement.

Daily Chart

Author

Patricio Martín

FXStreet

Patricio is an economist from Argentina passionate about global finance and understanding the daily movements of the markets.

Markets move fast. We move first.

Orange Juice Newsletter brings you expert driven insights - not headlines. Every day on your inbox.

Editor's Picks

EUR/USD faces the next support around 1.1600

EUR/USD comes under pressure and retreats for the fourth day in a row on Tuesday, coming closer to the key 1.1600 neighbourhood amid a decent rebound in the US Dollar ahead of the largely expected 25 basis point rate cut by the Federal Reserve on Wednesday.

GBP/USD extends mean reversion as investors brace for Fed

GBP/USD eased back toward the midrange on Tuesday, shedding around one-fifth of one percent after facing an intraday technical rejection from the 1.3350 level. Price action has slumped back into the 1.3300 handle and is holding just north of the long-term 200-day Exponential Moving Average near 1.3250 as markets hunker down for the last Federal Reserve (Fed) interest rate decision of 2025.

Gold defends $4,200 in Asia as traders gear up for the Fed

Gold price bounces off $4,200 in the Asian session on Wednesday. The precious metal finds fresh demand as traders seek safety ahead of the Fed verdict, with a 25 bps rate cut fully priced in. However, a hawkish stance on future monetary policy outlook cannot be ruled out.