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3 May 2013
Forex Flash: EUR/CAD risk of more weakness back to the 1.30 area – TDS
FXstreet.com (Barcelona) - EUR/CAD is currently trading at 1.3204, off fresh 1-month lows at 1.3145. “Sustained losses will make it much hard to stick with the near-term bull scenario (push to 1.36) even if the market is still trading within the confines of the potential bull flag,” Toronto based FX Research Team at TD Securities note, adding: “Minor pivot support at 1.3185 is under pressure intraday, as are the short-term moving average benchmarks that usually provide a decent directional guide to the cross.”
“Sustained weakness through the close of business today will suggest the risk of more weakness back to the 1.30 area,” the analysts conclude.
“Sustained weakness through the close of business today will suggest the risk of more weakness back to the 1.30 area,” the analysts conclude.