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4 Jun 2013
EUR/CAD retraces back to 1.3481/84 after upbeat Canadian trade figures
FXstreet.com (Barcelona) - The EUR/CAD took a tumble of 40 pips off its intraday highs (1.3522) Tuesday, after the release of better-than-expected Canadian data during US trading.
In Canada, International Merchandise Trade (April) came in at $-0.57B, beating projections of $-0.60B. In addition, Exports yielded (April) $40.27B, against a consensus of $39.10B. Finally, Imports (April) grew to $40.84B, against estimates of $39.65B.
Amidst this pullback, the EUR/CAD is still operating positively at +0.33%, settling in these moments at 1.3484/87. Mataf.net analysts identify the next short-term resistances at the 1.3497 handle, then 1.3551, and finally 1.3589. Alternatively, a paring of recent gains will eventually lead to supports at the 1.3401 level, ahead of 1.3367, and finally 1.3313.
In Canada, International Merchandise Trade (April) came in at $-0.57B, beating projections of $-0.60B. In addition, Exports yielded (April) $40.27B, against a consensus of $39.10B. Finally, Imports (April) grew to $40.84B, against estimates of $39.65B.
Amidst this pullback, the EUR/CAD is still operating positively at +0.33%, settling in these moments at 1.3484/87. Mataf.net analysts identify the next short-term resistances at the 1.3497 handle, then 1.3551, and finally 1.3589. Alternatively, a paring of recent gains will eventually lead to supports at the 1.3401 level, ahead of 1.3367, and finally 1.3313.