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TECHS: Below 50-dma For First Time....>

DOLLAR-CANADA
DOLLAR-CANADA: TECHS: Below 50-dma For First Time Since January
*RES 3: 1.4198 High Apr 23
*RES 2: 1.4121 High Apr 27
*RES 1: 1.4004 Intraday high
*PRICE: 1.3889 @ 20:26 BST Apr 29
*SUP 1: 1.3886 Low Apr 29
*SUP 2: 1.3856 Low Apr 13 and the bear trigger
*SUP 3: 1.3813 50.0% retracement of the rally between Jan 7 - Mar 19
USDCAD fell further Wednesday, edging below the 50-EMA, which cements the
outlook as negative. This move has neutralised the recent bullish focus and
suggests scope for a deeper pullback towards the next key support at 1.3856, Apr
13 low. A breach of 1.3856 would represent an important S/T technical break and
confirm a resumption of the move lower that started on Mar 19. This would open
1.3813, a Fibonacci retracement initially. Resistance is seen at 1.4121, Apr 27
high.

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