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May 8, 2013
Forex: EUR/CAD testing resistance at 1.3186/90
FXstreet.com (Barcelona) - The EUR/CAD has operated almost exclusively in an uptrend Wednesday and outside of a brief easing off of its session highs past the 1.3200 level (1.3210), the cross is firmly entrenched in positive territory at 1.3186/90 in these moments, ahead of US trading and on the heels of Canadian economic data.
The Mataf.net technical analyst team highlights that the EUR/CAD will encounter its next short-term resistances at 1.3186, followed by 1.3228, and 1.3256. Conversely, the pair is slated to face support at 1.3116, then 1.3088, and ultimately 1.3046.
In Canada, Housing Starts s.a. (YoY) were reported at 174.9K in April, against consensus expectations of 175K, and compared with a figure of 184K in the previous month.
The Mataf.net technical analyst team highlights that the EUR/CAD will encounter its next short-term resistances at 1.3186, followed by 1.3228, and 1.3256. Conversely, the pair is slated to face support at 1.3116, then 1.3088, and ultimately 1.3046.
In Canada, Housing Starts s.a. (YoY) were reported at 174.9K in April, against consensus expectations of 175K, and compared with a figure of 184K in the previous month.