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DOLLAR-CANADA: TECHS: Bears Target 200-DMA
Despite a modest recovery above 1.2900, bears look to target the 200-dma & 61.8%
retracement levels at 1.2865/56 in order to build on recent weakness and shift
the medium-term outlook negative. A break below here would suggest a large
topping pattern is unfolding, opening channel base support at 1.2792. Bulls look
for a break back above the 50-dma at 1.3058 and 50% retracement level at 1.3101
to return the focus to the upside and extend longer-term gains.