EURCAD London briefing — 2026-08-05

BIAS NEUTRAL — RSI overbought conflicts with bullish EMA alignment and D1 structure. Lacks conviction for directional edge. KEY LEVELS R: 1.625, 1.63 | S: 1.62, 1.615, 1.59935 NEWS 🟡 HCOB Composite PMI (EUR) — 08:00 UTC 🟡 Producer Price Index MoM (EUR) — 09:00 UTC SESSION OUTLOOK PMI data may trigger volatility around 1.625 resistance. Monitor rejection or breakout confirmation; overbought conditions favor pullback to support zones.

Key Levels

R: 1.62498 · 1.62500 · 1.63000

S: 1.62000 · 1.61500 · 1.59935