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TECHS: Being Dragged Higher by Oil....>

DOLLAR-CANADA
DOLLAR-CANADA: TECHS: Being Dragged Higher by Oil
After initially stabilising, oil prices sold off Tuesday, pulling USDCAD higher
and saw the cross touch the highest level since July 20th. Since July 20th, we
have only seen one close above 1.3250 and a close above this level would
reignite the bull trend. Even so, the focus remains the June ytd high at 1.3386.
Up trendline support from the Oct 1 low and the 21-dma continue to hold firm
keeping the bigger picture bull flag pattern intact. To regain control, bears
needs to see a close below the trendline/Friday's low at 1.3137/27. This would
turn the outlook bearish opening the 100-dma at 1.3068.

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