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USDCAD TECHS
  • RES 4: 1.2775 High Sep 29
  • RES 3: 1.2739 High Oct 1
  • RES 2: 1.2664 61.8.0% retracement of the Sep 20 - Oct 21 sell-off
  • RES 1: 1.2593 High Nov 11
  • PRICE: 1.2589 @ 16:43 GMT Nov 11
  • SUP 1: 1.2387 Low Nov 10
  • SUP 2: 1.2288 Low Oct 21 and the bear trigger
  • SUP 3: 1.2253 Low Jun 23
  • SUP 4: 1.2229 76.4% retracement of the Jun - Aug rally

USDCAD strengthened further Thursday, topping both Oct 8 high as well as the 50% Fib for the Sep 20 - Oct 21 sell-off. This works further in favour of a positive tone for the pair, opening gains toward 1.2664 initially as well as the October highs of 1.2739.A resumption of weakness would refocus attention on the bear trigger of 1.2288, Oct 21 low where a break would confirm a resumption of the downtrend.

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