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DOLLAR-CANADA: TECHS: Bearish Break
Having previously charted a Doji candle, USDCAD breached the key 1.34 level
yesterday. Recovery efforts have so far remained shallow and keeps pressure
toward the downside with bears now targeting the 100 & 55-dmas at 1.3345/38.
Below here opens a run at the 1.33 handle, ahead of the Apr 17 low at 1.3275.
Bulls need to recover 1.3450 which represents the 50% fibo of the recent
downtrend, before challenging the Apr 24 high at 1.3521.