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TECHS: Bullish Rebound Extends *RES...>

DOLLAR-CANADA
DOLLAR-CANADA: TECHS: Bullish Rebound Extends
*RES 4: 1.3270 High Dec 6
*RES 3: 1.3239 76.4% retracement of the Nov 20 - Dec 31 decline
*RES 2: 1.3205 High Dec 13
*RES 1: 1.3181 High Dec 20 and key resistance
*PRICE: 1.3143 @ 17:12 GMT Jan 23
*SUP 1: 1.3134 Intraday low
*SUP 2: 1.3026 Low Jan 9
*SUP 3: 1.2976 Low Jan 8
*SUP 4: 1.2952 Low Dec 31 and bear trigger
USDCAD burst higher following the Bank of Canada rate decision Wednesday and
remains firm, extending these gains today. This confirms the formation of a base
at 1.2952, Dec 31 low. The pair has cleared its 50-dma at 1.3151 further
reinforcing bullish conditions. Attention turns to resistance at 1.3181, Dec 20
high and 1.3205, Dec 13 high. A break of the latter would open 1.3239, a
retracement level. Initial support is at 1.3134.

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