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DOLLAR-CANADA: TECHS: Bulls Rewarded, but Capped at 50-dma
*RES 4: 1.3205 High Dec 13
*RES 3: 1.3181 High Dec 20 and key resistance
*RES 2: 1.3151 50-dma
*RES 1: 1.3149 High Jan 9
*PRICE: 1.3146 @ 17:25 GMT Jan 22
*SUP 1: 1.3026 Low Jan 9
*SUP 2: 1.2976 Low Jan 8
*SUP 3: 1.2952 Low Dec 31 and bear trigger
*SUP 4: 1.2917 Low Oct 16
USDCAD burst higher following the Bank of Canada rate decision Wednesday,
rewarding those who'd followed the bullish set-up. This confirms the formation
of a base at 1.2952, Dec 31 low with the focus now on the 50-dma at 1.3151 which
has held well so far. Note, the recent consolidation appears to be a bull flag
reinforcing a bullish theme. A failure to hold onto recent highs and a return
below 1.3000 would however threaten the bullish picture and expose 1.2952.