EURCAD London briefing — 2026-07-20

BIAS BEARISH. H4 and H1 EMAs aligned downside; D1 structure confirms; RSI neutral but not conflicting. KEY LEVELS R: 1.605, 1.61, 1.62735 | S: 1.6, 1.59935, 1.595 NEWS 🟡 EUR Construction Output (MoM/YoY) – 09:00 UTC 🟡 CAD CPI Core (MoM) – 12:30 UTC SESSION OUTLOOK Watch EUR construction data for euro weakness confirmation. CAD CPI may support CAD strength, reinforcing downside bias. PRO UNLOCKS Entry 1.60325→1.60, SL 1.605, TP1 1.59935, TP2 1.595, FVG 1.6050–1.6025, liquidity sweep 1.61.

Key Levels

R: 1.60500 · 1.61000 · 1.62735

S: 1.60000 · 1.59935 · 1.59500