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TECHS: Candle Patterns Flag...........>

DOLLAR-CANADA
DOLLAR-CANADA: TECHS: Candle Patterns Flag Reversal
*RES 4: 1.3833 High May 29
*RES 3: 1.3792 50-day EMA
*RES 2: 1.3715 Low May 29
*RES 1: 1.3666 Intraday high
*PRICE: 1.3556 @ 10:17 BST Jun 12
*SUP 1: 1.3398 Low Jun 11
*SUP 2: 1.3316 Low Jun 10 and bear trigger
*SUP 3: 1.3267 Low Feb 25
*SUP 4: 1.3202 Low Feb 21
USDCAD bounced sharply Thursday, taking out resistance at 1.3585, Jun 2 high.
Wednesday's candle pattern was a doji, suggesting a base may have been
established at the recent low of 1.3316. This was reinforced yesterday with a
second candle pattern, a bullish engulfing reversal. It appears a trend reversal
has occurred with further gains likely near-term. A break of 1.3316 is required
to reinstate a bearish theme.

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