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EUR/CAD steady above 1.4100

FXStreet (Córdoba) - EUR/CAD remains steady on Monday, hovering around 1.4120, marginally higher for the day. The euro and the loonie area posting modest gains against the US dollar.

EUR/CAD consolidating after 3-day slide

On Friday the pair lost ground for the third day in a row but managed to end far from the lows. Price bottomed at 1.4053, one-week low and then bounced sharply rising back above 1.4100. The recovery found resistance on Monday at 1.4140 and the pair lost momentum.

The dominant trend still points to the downside. The area around 1.4050 has become a key short term support, followed by 1.4000. To the upside, above 1.4140 (daily high), the next resistance might lie at 1.4190 (November 7 high).

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