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DOLLAR-CANADA: TECHS: Breaking lower
USDCAD has breached the 1.30 level two days running, setting up a test of the
descending channel support now at 1.2976. A further break below here will open
the way for the 1.2856 area to be targeted. Daily momentum indicators have also
given further bearish signals. Any rebounds will likely encounter initial
resistance at 1.3096, which has formed the top end of the range over the past
few trading sessions.