EURCAD London briefing — 2026-07-31

BIAS BULLISH. Daily structure firm; H1 EMA bullish offsets neutral H4 and overbought RSI (67). Higher timeframe structure wins. KEY LEVELS R: 1.61845, 1.62 | S: 1.61, 1.605, 1.59935 NEWS 🔴 Core CPI MoM (EUR) — 09:00 UTC 🔴 Core CPI YoY (EUR) — 09:00 UTC 🔴 CPI MoM (EUR) — 09:00 UTC SESSION OUTLOOK High inflation prints risk sudden EUR weakness and volatility spike. Watch 1.615 resistance; weaker-than-expected CPI could trigger pullback to 1.605 support.

Key Levels

R: 1.61500 · 1.61845 · 1.62000

S: 1.61000 · 1.60500 · 1.59935