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Soft oil prices pressured the CAD.....>

DOLLAR-CANADA: Soft oil prices pressured the CAD yesterday. USDCAD spiked to
8-week highs of C$1.3345, but more importantly failed to close above key
resistance from the 100 & 200-dma's. These levels come in today at C$1.3308/06
respectively with a break needed to cement the uptrend. The cloud top & former
channel top is placed behind at C$1.3312/16.
- EURCAD up five straight sessions peaked at C$1.4995 yesterday and charted a
shooting star candle which is normally a reversal pattern. Rate eases to
C$1.4890 at typing with near-term support at C$1.4855 from the 55-dma, ahead of
the Aug 5 high at C$1.4817. 

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