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TECHS: At A Crossroads USDCAD.........>

DOLLAR-CANADA
DOLLAR-CANADA: TECHS: At A Crossroads
USDCAD continues to range trade in the short term with yesterday's low of 1.2996
now acting as the next level of support before the lower boundary of the major
descending channel comes in, currently at 1.2960. Supportive near-term technical
indicators are consistent with a rebound, which would become increasingly likely
on a break above the 1.3050, opening the way for a recovery towards 1.3191 ahead
of the 1.3290 July high. On the downside, a break below the channel support at
1.2960 would put the long term up trendline support at 1.2931 under pressure.

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