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Baht Remains Heavy

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*RES 4: 1.4349 High Mar 31
*RES 3: 1.4265 High Apr 21 and the bull trigger
*RES 2: 1.4198 High Apr 23
*RES 1: 1.4152 Intraday high
*PRICE: 1.4091 @ 16:34 BST May 4
*SUP 1: 1.3930 Low May 1
*SUP 2: 1.3851 Low Apr 30 and bear trigger
*SUP 3: 1.3813 50.0% retracement of the rally between Jan 7 - Mar 19
*SUP 4: 1.3734 Low Mar 16
Last week, USDCAD tested below but failed to convincingly break the bear trigger
at 1.3856, Apr 13 low. The subsequent bounce is potentially an important bullish
development. Note too that the pair also managed to find support at the 50-day
EMA around 1.3896. Attention is on further gains with scope for a climb towards
key resistance at 1.4265, Apr 21 high. A break of this level would open 1.4349,
Mar 31 high. Key support has been defined at 1.3851, Apr 30 low.

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