CAD remains at elevated levels following.....>

CANADA: CAD remains at elevated levels following the Washington Post source

overnight that suggested the U.S. is preparing to announce that all Iranian oil

importers will have to end their imports in the short-term or be open to U.S.

sanctions.

- USDCAD holds toward the base of its C$1.3358-93 range and further backs away

from triangle top resistance around the C$1.34 level, which has contained over

previous sessions. We highlighted this in an analysis email on Thursday,

suggesting the potential of a short-term reversal back toward the 100-dma at

1.3338. (See MNI email USDCAD Symmetrical Triangle - Apr 18 1412BST).

- Having breached the 100 & 200-dma's last week, EURCAD extends its correction

toward the psychological C$1.50 level. A downside break could accelerate the

move, opening the Apr 9 low & 76.4% retracement level at C$1.4971/65.

- CADJPY improves to Y83.80 and seen approaching broken channel base

support-turned-resistance at Y83.86, above here opens pivotal resistance at

Y84.01.