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TECHS: Below 200-dma Targets..........>

DOLLAR-CANADA
DOLLAR-CANADA: TECHS: Below 200-dma Targets Channel Bottom
Positive news on the NAFTA front saw USDCAD drop below its 200-dma in Asian
trading for the first time in six months, shifting the outlook bearish. Channel
base support at 1.2792 is the next downside target as a large topping pattern
plays out. Bulls need to reclaim the 100-dma at 1.3055 to change the short-term
outlook, before targeting the 50% retracement level at 1.3136.

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