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Forex: EUR/CAD pares gains to trade at 1.3411/12 after CPI in Canada

FXstreet.com (Barcelona) - The EUR/CAD stumbled Friday during US trading following the release of Canadian data. An attempt at the upside at 1.3453 (session high) was stonewalled and turned sharply downward towards 1.3411/12 in these moments. Despite this drop the cross still remains in positive territory, up +0.08%.

In Canada, the BOC Consumer Price Index Core (YoY) came in at +1.4% in March, beating consensus expectations of +0.2%. In addition, the Consumer Price Index (YoY) climbed +1.0% in March, exceeding the projected figure of +0.2%. Finally, the Consumer Price Index (MoM) grew +0.2% in March, matching estimates.

According to the Mataf.net technical analyst team, the EUR/CAD is slated to face calculated resistance at 1.3428, onto 1.3468, and finally 1.3506. Alternatively, a break lower will open up supports at 1.3350, then 1.3312, and ultimately 1.3272.

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