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Forex: USD/CAD testing intraday highs

FXstreet.com (Barcelona) - The Canadian dollar losing ground against the greenback on Wednesday, hovering over session lows in the area of 1.0275/80.

“The rally from the January low has followed a nice bull “wave” structure and the rally/consolidation/break out pattern of trade since February implies scope for a push to the 1.06 area. From here, only a move sub-1.01 changes the bullish picture”, suggested G.Moore and S.Osborne, FX Strategists at TD Securities.

As of writing, the cross is up 0.14% at 1.0272 with the next hurdle lying at 1.0286 (high Apr.22) followed by 1.0295 (high Apr.170 and finally 1.0315 (high Mar.8).
On the flip side, a breakdown of 1.0248 (low Apr.22) would bring 1.0227 (MA10d) and then 1.0210 (low Apr.17).

Forex: GBP/USD falls to 1.5250

The Sterling is currently trading lower against the US dollar with the GBP/USD declining around 30 pips in the last two hours from 1.5280 to test the 1.5250 area. At this moment, the Cable is pricing at 1.5255.
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Euro clings to 1.3000 with ECB on sight

The shared currency continues waver at the rhythm of headlines and economic indicators, posting lower lows on daily basis against the dollar. Growing expectations the ECB will have to respond to fundamental weakness with a rate cut as soon as next week, weighed on the shared currency but helped to support stocks.
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