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TECHS: Consolidating But Still........>

DOLLAR-CANADA
DOLLAR-CANADA: TECHS: Consolidating But Still Bullish
*RES 4: 1.4349 High Mar 31
*RES 3: 1.4265 High Apr 21 and the bull trigger
*RES 2: 1.4198 High Apr 23
*RES 1: 1.4152 High May 4
*PRICE: 1.4038 @ 06:19 BST May 6
*SUP 1: 1.3930/16 Low May 1 / 50-day EMA
*SUP 2: 1.3851 Low Apr 30 and bear trigger
*SUP 3: 1.3813 50.0% retracement of the rally between Jan 7 - Mar 19
*SUP 4: 1.3734 Low Mar 16
USDCAD is unchanged. The pair last week tested below but failed to convincingly
break 1.3856, Apr 13 low. The subsequent bounce is potentially an important
bullish development. Note too that the pair has managed to find support at the
50-day EMA. Attention is on further gains with scope for a climb towards key
resistance at 1.4265, Apr 21 high. A break of this level would open 1.4349, Mar
31 high. Key support has been defined at 1.3851, Apr 30 low.

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