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Free AccessTECHS: Building Momentum Lack of......>
DOLLAR-CANADA: TECHS: Building Momentum
Lack of NAFTA headlines saw USDCAD regain the 1.2900 level yesterday, with the
recovery building through Europe. Bulls look for a break back above the 50-dma
at 1.3054 and 50% retracement level at 1.3101 to return the focus to the upside
and extend longer-term gains. Bears need a break back under 1.2900 to challenge
the 200-dma at 1.2866. Below here would suggest a large topping pattern is
unfolding, opening channel base support at 1.2792.
To read the full story
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.