1- Euro right now is fundamentally bullish than Canadian Dollar.

2- European Central Bank in their last meeting had a hawkish tone as well and Canadian Central Bank had a dovish tone in their last meeting because Canada is more focused on their economy right now.

3- Right Now we are waiting for this Friday’s Euro CPI data and if that data came out higher than expected EURCAD can move up to its daily 61 Fibonacci Level and the next major data which can damage this trade will be on 17 August 2026 which is Canadian CPI.