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23 Apr 2013
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.
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.