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TECHS: Bears Target 55-DMA USDCAD.....>

DOLLAR-CANADA
DOLLAR-CANADA: TECHS: Bears Target 55-DMA
USDCAD dipped back under 1.3350 amid the backdrop of firmer oil prices and a
weaker dollar. Bears target a downside break of the cloud base & 100-dma at
1.3294/92, below here opens the Feb 22 high & 50% retracement level of
1.2783-1.3665 at 1.3242/24. Bulls need to recover 1.34 to stabilise the outlook,
putting the focus back on the Mar 6 high at 1.3468. Above here opens the Jan 4
high & 76.4% retracement at 1.3496/1.3524, while the inverse head and shoulders
target comes in around 1.36.

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