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Forex: EUR/CAD recovers the mark of 1.3271/74

FXstreet.com (Barcelona) - The EUR/CAD moved into recovery mode Thursday, following the release of upbeat Canadian data and the fallout of the ECB rate decision, which was held at 0.50%. Following a bounce off the 1.3250 level, the cross is now recovering the mark of 1.3271/74, still down a tepid -0.14% during US trading.

Briefing the technical levels, the Mataf.net analyst team identifies the next short-term supports for the EUR/CAD at 1.3237, then 1.3196, and finally 1.3148. Alternatively, a paring of losses will result in a testing of resistances at 1.3326, onto 1.3374, and finally 1.3415.

In Canada, the International Merchandise Trade (March) came in at $0.02B, vs. a projected $-0.72B. In addition, Exports (March) yielded a figure of 40.47B, against expectations of 38.76B. Finally, Imports in March were 40.45B, against a consensus of 39.63B.

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