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EUR/CAD returns from 1.4240

FXStreet (Edinburgh) - After posting fresh highs around 1.4240, EUR/CAD is now back to the 1.4215/10 band.

EUR/CAD supported at 1.4180

The cross is following the performance of the single currency at the end of the week, failing to extend the intraday rebound beyond the 1.4240 band so far. The broader picture shows some sort of support in the 1.4200 neighbourhood, looking to consolidate the decline from October peaks around 1.4500 the figure. The cross will keep the cautious trade however, as the ECB will inform the final results from the stress tests over the weekend. “EURCAD has steadied around moving average support in the low 1.42 area but the early week drop in the cross leaves EURCAD looking soft back inside the old bear trend channel after having struggled to hold gains above the 1.4420 bull trigger”, noted strategists at TD Securities.

EUR/CAD is now advancing 0.10% at 1.4217

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