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3 Mar 2015
EUR/CAD hits session low
FXStreet (Barcelona) - The EUR/CAD pair fell to a session low of 1.3888 after the Canadian data showed the economic growth beat estimates on a monthly as well as annualised basis.
EUR/CAD: At one-month low
The pair is trading at a level last seen on Jan. 27th after the data in Canada showed showed annualised real gross domestic product (GDP) grew 2.4% in the fourth quarter, beating the estimate of 2.0%, and down from a 3.2% gain in the third quarter. On a monthly basis, real GDP increased 0.3% in December, beating the estimate of 0.2% gains, and higher from the 0.2% contraction in the third quarter.
The upbeat industrial production data also helped the CAD gain strength. However, the pair has recovered slightly from the low of 1.3888 to trade at 1.3923 levels.
EUR/CAD Technical Levels
The immediate resistance is seen at 1.3949, above which gains could be extended to 1.4027. On the flip side, a break below the daily low at 1.3888 could push the pair further down to 1.38 levels.
EUR/CAD: At one-month low
The pair is trading at a level last seen on Jan. 27th after the data in Canada showed showed annualised real gross domestic product (GDP) grew 2.4% in the fourth quarter, beating the estimate of 2.0%, and down from a 3.2% gain in the third quarter. On a monthly basis, real GDP increased 0.3% in December, beating the estimate of 0.2% gains, and higher from the 0.2% contraction in the third quarter.
The upbeat industrial production data also helped the CAD gain strength. However, the pair has recovered slightly from the low of 1.3888 to trade at 1.3923 levels.
EUR/CAD Technical Levels
The immediate resistance is seen at 1.3949, above which gains could be extended to 1.4027. On the flip side, a break below the daily low at 1.3888 could push the pair further down to 1.38 levels.