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Forex: USD/CAD eyes 2013 high

The US dollar strengthened versus the loonie and pushed higher to hit a fresh 1-month high of 1.0096 in recent dealings. USD/CAD bounced from a low of 1.0055 during the American morning and managed to surpass last week's high of 1.0085.

At time of writing, USD/CAD is trading around 1.0085, where it posts a 0.1% daily gain, with next target at its 2013 high of 1.0099 (double top/25 and 28 Jan highs).

If USD/CAD manages to break above 1.0100 next resistances are seen at 1.0130 (Jul 20 high) and 1.0165 (Jul 26 high). On the downside, supports could be found at 1.0055 (intraday low) 1.0010 (10-day SMA), 1.0000 (psychological level).

Italian campaign works to swing remaining voters in final week before election

Italian voters have braced for the impact of an upcoming onslaught of tax-cut promises and attacks on the European Union as the four leading candidates begin the final stretch of the campaign, taking to airwaves and a mad scramble to visit to all corners of the republic before the polls are opened.
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Forex: EUR/USD digests ECB's Draghi

The EUR/USD is trading quite flat around the weekly opening price of 1.3350, although trading in a very tight range on Monday. A fall as been seen around 14:30 GMT as ECB President Mario Draghi gave a speech before the European Parliament. He said the central bank's stance is accomodative and that the exchange rate, while not a policy target, it is important for growth and price stability. Eurozone weakness is expected to continue throughout 2013.
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