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Close Below Channel Base To Target....>

DOLLAR-CANADA
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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