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200-dma In Sight Monday's break of....>

DOLLAR-CANADA
DOLLAR-CANADA: 200-dma In Sight
Monday's break of the key 1.30 level has given bears renewed momentum and
resulted in a print below the 1.29 mark Tuesday, confirming the pair has broken
out of the 50-, 100-dma channel. This opens the possibility of a test of the
200-dma at 1.2842 on a close below 1.29. Up trendline support and the 100-dma at
1.2995 will now act as resistance. A break above 1.3160 is needed to turn the
outlook bullish and would likely confirm a bull flag formation, accelerating
gains.

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