Forex: EUR/CAD resumes downfall

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Forex: EUR/CAD resumes downfall

FITITOL--> FXstreet.com (Barcelona) - The single currency has kept falling against the Canadian dollar (falling on each session since Monday), accumulating a daily loss of 0.20%. Germany, the biggest economy in the eurozone, printed its latest results for the Gfk consumer confidence survey, dropping to 5.6 from 5.8. It was expected that it would increase to 5.9. German CPI came out yesterday, and the YoY inflation rate came in line with expectations at 2.0% and the MoM change at 0.2% (forecast was 0.1%).

On the other hand, Mark Carney, governor of the BoC, will give a speech at 12:25 GMT.

The pair is currently trading at 1.2985 with resistance at 1.3045, ahead of 1.3077 and 1.3119, according to Fxstreet.com pivot points on technical tools. On the downside, there is support at 1.2971, followed by 1.2929 and 1.2897.