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TECHS: 1.35 Proves Difficult At The...>

DOLLAR-CANADA
DOLLAR-CANADA: TECHS: 1.35 Proves Difficult At The Close
USDCAD broke above the 1.35 level on an intraday basis for the second
consecutive day yesterday before giving back gains to close below it. Bulls look
for a close above here and a break above Wednesday's high at to 1.3521. The
76.4% retracement level of the Dec - Jan fall comes in just above here at 1.3524
and a close above this level puts the focus back on the Dec 31 high at 1.3665.
To the downside, bears need to clear the 1.34 level & 100-dma at 1.3344. A close
below the 55-dma at 1.3331 would shift the outlook negative, opening the March
19 low & triangle base at 1.3251/48.

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