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TECHS: Clears The 200-DMA *RES 4:.....>

DOLLAR-CANADA
DOLLAR-CANADA: TECHS: Clears The 200-DMA
*RES 4: 1.3833 High May 29 and key near-term resistance
*RES 3: 1.3715 Low May 29
*RES 2: 1.3585 High Jun 2
*RES 1: 1.3392 High Jun 5
*PRICE: 1.3382 @ 17:01 BST Jun 8
*SUP 1: 1.3373 Low Jun 8
*SUP 2: 1.3357 76.4% retracement of the Jan - Mar rally
*SUP 3: 1.3315 Low Mar 2
*SUP 4: 1.3247 3.0% 10-dma envelope
USDCAD remains under pressure following last week's impulsive move lower. The
pair has also cleared the 200-dma reinforcing the underlying bearish condition
and this leaves the pair exposed to further weakness. The focus is on 1.3357
next, 76.4% of the Jan - Mar rally. A break of this level would open 1.3315, Mar
2 low. On the upside, initial firm resistance is seen at 1.3585, Jun 2 high. A
breach would signal the start of a correction.

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