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CANADA: TECHS: Above 100-DMA Needed To Extend Uptrend
The bullish bigger picture trend in USDCAD remains intact but the failure
yesterday to close above the 100-dma at 1.3055 warrants caution. A close above
here is needed to build upside momentum towards the 50% retracement level at
1.3136, before challenging the Sep 6 high at 1.3226. Bears need a break back
under 1.2900 to re-test the Sep 20 low & 200-dma at 1.2885/69. Below here would
suggest a large topping pattern is unfolding, opening channel base support at