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DOLLAR-CANADA: TECHS: Close Above 1.34 Will Reassure Bulls
While the rate slipped Friday, the short-term trend remains bullish and a close
above 1.34 would keep that intact. Any extension of the trend will face
resistance at the Apr24 high at 1.3521 ahead of the 76.4% retracement level of
the Dec - Jan fall at 1.3524. Above here would put the focus back on the Dec 31
high at 1.3665. To the downside, bears need to clear the 1.34 level & 100-dma at
1.3344. A close below the 55-dma at 1.3331 would shift the outlook negative,
opening the March 19 low & triangle base at 1.3251/48.