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May 9, 2013
Forex: EUR/CAD falls to 1.3169/72 after Canadian housing data
FXstreet.com (Barcelona) - The EUR/CAD fell off the 1.3190 handle at the onset of US trading Thursday, taking a tumble of nearly 25 pips on the heels of mixed Canadian data. This move comes on the back end of sporadic trading during the European session. At the time of writing, the pair is now trading at 1.3169/72, in negative territory down -0.13%.
The Mataf.net technical analyst team highlights that the EUR/CAD will encounter its next short-term supports at 1.3145, followed by 1.3095, and 1.3048. Conversely, the pair is slated to face resistance at 1.3242, then 1.3289, and ultimately 1.3339.
In Canada, the New Housing Price Index (MoM) rose +0.1 in March, matching estimates of +0.1%. Finally, the New Housing Price Index (YoY) reported just +2.0% in March, vs. +2.1% projected.
The Mataf.net technical analyst team highlights that the EUR/CAD will encounter its next short-term supports at 1.3145, followed by 1.3095, and 1.3048. Conversely, the pair is slated to face resistance at 1.3242, then 1.3289, and ultimately 1.3339.
In Canada, the New Housing Price Index (MoM) rose +0.1 in March, matching estimates of +0.1%. Finally, the New Housing Price Index (YoY) reported just +2.0% in March, vs. +2.1% projected.