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Free AccessClose Below Channel Base To Target....>
DOLLAR-CANADA: Close Below Channel Base To Target C$1.2232
*RES 4: C$1.2749 - 100-DMA
*RES 3: C$1.2662 - High Aug 31
*RES 2: C$1.2651 - Daily Bull channel top
*RES 1: C$1.2594 - High Oct 9
*PRICE: C$1.2515 @ 0930GMT
*SUP 1: C$1.2470 - 55-DMA
*SUP 2: C$1.2418 - Lows Sept 28 & 29
*SUP 3: C$1.2401 - 21-DMA
*SUP 4: C$1.2392 - Daily Bull channel base
*COMMENTARY: The pair is looking a little heavy with pressure having returned to
the 55-DMA following the failure ahead of C$1.2600 where the bull channel top
capped. Layers of support C$1.2392-1.2470 remain key. Bears need a close below
the 55-DMA to add weight to their case and below the bull channel base to target
C$1.2232. Bulls now look for a close above C$1.2594 to reconfirm control and
above C$1.2662 to focus on C$1.2749-77.
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Why MNI
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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.