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TECHS: 1.3156 the Pivot After the.....>

DOLLAR-CANADA
DOLLAR-CANADA: TECHS: 1.3156 the Pivot
After the fall in oil prices over the past couple of weeks, USDCAD broke above
1.3156, the 61.8% retracement from 1.2783-1.3386. As oil has recovered, we have
broken back below this level and at the time of writing look set to close the
week below 1.3156. To move the short-term outlook back to bearish, the up
trendline at 1.3140 needs to see a close below. Lower sits the 100-dma & Oct 25
low at 1.3068/15. Bulls need a weekly close back above 1.32 to reaffirm the bull
flag formation and return the focus to the June ytd high at 1.3386.

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