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TECHS: Bearish Risk Still Present.....>

DOLLAR-CANADA
DOLLAR-CANADA: TECHS: Bearish Risk Still Present
*RES 4: 1.3867 Low May 19
*RES 3: 1.3833 High May 29 and key near-term resistance
*RES 2: 1.3715 Low May 29
*RES 1: 1.3585 High Jun 2
*PRICE: 1.3493 @ 10:50 BST Jun 5
*SUP 1: 1.3468 Low Jun 4
*SUP 2: 1.3462 Low Mar 9 and the 200-dma
*SUP 3: 1.3380 Low Mar 3
*SUP 4: 1.3361 76.4% retracement of the Jan - Mar rally
USDCAD remains under pressure. The break lower this week resulted in a move
through 61.8% of the Jan - Mar rally at 1.3611, setting the scene for a deeper
decline. This has opened 1.3462 next, Mar 9 low and 1.2261 further out, the
76.4% retracement. Momentum studies are also trending lower highlighting the
risk for an extension of this bearish cycle. Key short-term resistance is seen
at 1.3833, May 29 high.

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