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TECHS: Break of 50-dma Needed to......>

DOLLAR-CANADA: TECHS: Break of 50-dma Needed to Extend Recovery
USDCAD was unable to break back above its 50-dma both Monday and Tuesday - a
requirement to shift the outlook more positive - which keeps bears in control
and the downtrend from the Sep 6 high intact. Bulls need to break above the
50-dma at 1.3017 to challenge the Sep 27 high and attempt to turn the downtrend
channel from the June highs into a bull flag. Bears need to press back through
the 200-dma at 1.2879 and challenge 1.2800 to keep hopes of a topping pattern

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