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Forex Flash: CAD crosses technically mixed - Scotiabank

FXstreet.com (Barcelona) - Scotiabank analysts have taken a look at today´s CAD crosses from a purely technical perspective and note that the outlook is mixed.

Starting with USDCAD, they are bearish and note that all studies are in sell territory and not yet oversold with an RSI at 38. For short‐term traders they see value in shorting at 1.0090,targeting 1.0020, with a stop at 1.0230. For EUR/CAD, they are mixed and note conflicting signals, with spot between the 100 & 200 day MA. They feel that there is better risk/reward elsewhere. Moving to AUD/CAD, they are again mixed, noting that spot has historically struggled to maintain positions above 1.07.

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Forex Flash: Peripheral European concerns linger – Deutsche Bank

In Greece, the Bank of Greece Governor George Provopoulos said that the country saw deposit inflows of more than €1.5B in March despite fears the Cypriot banking crisis would cause outflows. Provopoulos said the Greek banking sector averted contagion from the Cypriot crisis by getting Greek lender Piraeus to buy Cypriot bank branches operating in Greece before they reopened after the extended bank holiday.
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