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Forex: EUR/CAD falls to support at 1.3321/26 after Retail sales in Canada

FXstreet.com (Barcelona) - After experiencing a dramatic downturn during European trading earlier today, the EUR/CAD has fallen even lower as upbeat Canadian data was recently released. The pair has now fallen below multiple supports to trade at 1.3321/26 in these moments, entrenched in negative territory, and down -0.58%.

Following a plunge below the 1.3342 support, the Mataf.net analyst team identifies the next short-term supports for the EUR/CAD at 1.3320. Conversely, a paring of gains will result in a testing of resistances at 1.3414, onto 1.3436, and finally 1.3461.

In Canada, Retail Sales (MoM) rose +0.8% in February, against expectations of +0.3%. Moreover, Retail Sales ex Autos (MoM) experienced a climb of +0.7% in February, vs. a projection calling for +0.5%. Later today within the hour, the BoC’s Mark Carney is expected to make a speech.

Forex: USD/CAD falls to 1.0258/64 after Canadian retail sales

The USD/CAD has had an active day Tuesday, bolstered by the release of Canadian economic data and earlier figures across Europe and China that have left the pair behaving in a volatile manner. In these moments, the cross has settled in positive territory at 1.0258/64, still up +0.02% despite shedding 20 pips.
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Forex Flash: AUD/NZD poised for correction? – Westpac

Having already fallen more than 4 cents since mid-March, the AUD/NZD seems due for at least consolidation near-term, perhaps back to a 1.23 handle for a while. However, “the contrasts between the RBAs clear easing bias and the RBNZs steady hand plus the sharp divergence in relative commodity prices suggests ongoing risks to 1.20-1.2100 multi-week.” writes Global FX Strategist Sean Callow at Westpac.
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