Archived IMT (2009.04.08)
EURCAD drops to 3 week lows at 1.6315, testing the 100-day MA for the first time in a month and nearing 1.6280, which is the 50% retracement of the move from the Feb low to the March 20 high. Considering the potential for disappointing Canadian job figures, we could see EURCAD stabilize before rebounding towards the 1.652. key foundation stands at the 50-day MA of 1.6260.
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