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Forex: USD/CAD peaks to 1.0165 but rejects and falls to 1.0130

FXstreet.com (San Francisco) - The US dollar is currently trading lower against its Canadian counterpart and after reaching the 1.0165, highest since April 1st, the USD/CAD has been rejected at this level with the pair falling hard to break down the 1.0140 and trade at intra-day lows at 1.0130.

Currently the pair is trading at 1.0140, almost flat on the day but slightly bearish according to the FXstreet.com trend index. Indicators such as CCI and Momentum are bearish while the MACD and Stochastis are neutral in the 1hour chart.

Below the 1.0130, next supports are at 1.0124 April 1nd and 3rd double bottom, then 1.0100, January 25th and 28th. resistances are at 1.0165, 1.0180 and 1.0200.

Forex Flash: ECB commitment to the euro is vastly underestimated - BBH

Marc Chandler, Global Head of Currency Strategy at Brown Brothers Harriman notes that comments from ECB President Draghi reiterating that the commitment to the euro is "vastly under-estimated" has helped the euro claw back its earlier losses entirely, and a move above $1.2855, especially on a close basis, would be a very constructive technical development.
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Forex Flash: EUR/USD looks neutral ahead - BTMU

Bank of Tokyo Mitsubishi UFJ analysts believe that EUR/USD looks neutral for the week ahead and they see spot moving between 1.2650 and 1.3050.
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