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Commodity tied currencies remain on...>

DOLLAR-CANADA
DOLLAR-CANADA: Commodity tied currencies remain on the defensive following
yesterday's sharp falls in oil. WTI again traded below $46, but has since
settled around $46.30/35 at the European crossover. USDCAD touched its highest
levels since June 2017 yesterday, falling just short of the key psychological
C$1.35 level. USDCAD retains outright bullish sentiment according to the MNI FX
Technical Signal Monitor with focus remaining on the topside. A break of C$1.35
opens the 1.0% 10-dma envelope & Eq move C$1.3160-1.3445 on C$1.3254 at
C$1.3523/39. Meanwhile, in WTI bears target a break of yesterday's low at
$45.79, below here opens the long-term 61.8% retracement of $26.19-76.90 & Aug
31 2017 low at $45.61/58. 

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