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TECHS: Close above key DMAs...........>

DOLLAR-CANADA
DOLLAR-CANADA: TECHS: Close above key DMAs averted:
*RES 4: 1.3435 76.4% retracement of the May 31-Jul 19 decline
*RES 3: 1.3432 High Jun 18
*RES 2: 1.3355 61.8% retracement of the May 31-Jul 19 decline
*RES 1: 1.3306/08 200-dma/100-dma
*PRICE: 1.3280 @ 05:50 GMT Aug 08
*SUP 1: 1.3228/26 Cloud base/55-dma
*SUP 2: 1.3178 Low Aug 05
*SUP 3: 1.3123/19 50-mma/200-wma
*SUP 4: 1.3106 Low Jul 31
Oil's recovery from lows late yesterday has allowed CAD to regain some poise,
with the pair moving back and closing below some key DMA's as a result, taking
the edge off of the bullish impetus. A break back above the 200- & 100-DMAs
opens the 61.8% retracement of the May-Jul decline at 1.3355. On the downside a
subsequent break of 1.32 would reignite bears interest, returning the focus to
the Jul 19 ytd low at 1.3016.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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