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DOLLAR-CANADA: TECHS: Bears Show Some Resolve
USDCAD broke back through 1.32 and the Sep 6 high yesterday, returning the
outlook neutral. While the bigger picture bullish trend remains intact, a break
of up trendline support at 1.3140 would be a negative signal, opening the
100-dma at 1.3068. Below here would bring the Oct 25 low into view at 1.3015,
ahead of the 200-dma at 1.2972. Bulls need to close back above 1.32 to reaffirm
the bull flag formation and return the focus to the June ytd high at 1.3386.