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Free AccessBullish outlook remains in place:.....>
DOLLAR-CANADA: Bullish outlook remains in place:
*RES 4: 1.3565 High May 31, key resistance
*RES 3: 1.3527 High Jun 3
*RES 2: 1.3485 76.4% retracement of the 1.3565-1.3225 decline
*RES 1: 1.3435 61.8% retracement of the 1.3565-1.3225 decline
*PRICE: 1.3382 @ 04:54 GMT June 19
*SUP 1: 1.3365 Intraday low thus far
*SUP 2: 1.3323 Low Jun 14, the last standard line candle pattern
*SUP 3: 1.3273 Low Jun 12
*SUP 4: 1.3225 Low Jun 10 and key support
Pullback Tuesday has not, at least yet, developed into a significant threat for
bulls. In the short-term, upside remains favoured, but this may deteriorate
should USD/CAD fall below 1.3350. Upside focus is on 61.8% retrace of the
1.3565-1.3225 downleg at 1.3435. A break to open 1.3485. USDCAD has traded in a
choppy manner this year. As a result, there is no dominant trend so the
potential for gains is being viewed merely as short-term.
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.