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Free AccessTECHS: $1.2885-$1.2893 The Bar To.....>
DOLLAR-CANADA: TECHS: $1.2885-$1.2893 The Bar To $1.2904-$1.2927 Return
*RES 4: $1.2969 Jan 31 low, now resistance
*RES 3: $1.2917/27 Oct 27 high, 50% of $1.3794-$1.2061
*RES 2: $1.2904/09 1% volatility band, Nov 30 high
*RES 1: $1.2885/93 Hourly recovery highs Dec 1
*PRICE: $1.2840 @1711GMT
*SUP 1: $1.2805/10 Hourly support
*SUP 2: $1.2775/85 Hourly basing area Dec 6
*SUP 3: $1.2727 Dec 4 high, now support
*SUP 4: $1.2707 Initial high Dec 6, now support
*COMMENTARY* Held on Tuesday, by support from the lower 1% volatility band at
$1.2624. The subsequent recovery was faltering for a while between $1.2705-10
resistance but found the impetus for a break higher on Wednesday. This rally has
surpassed all near term resistance including the 76.4% Fibo retrace at $1.2842.
The $1.2885-$1.2893 area now the remaining barrier to further upside hopes.
Support $1.2810-1.2775 loss would concern.
To read the full story
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Why MNI
MNI is the leading provider
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.