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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.