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Free AccessTECHS: Correcting Recent..............>
DOLLAR-CANADA: TECHS: Correcting Recent $1.2451-$1.2917 Gains
*RES 4: $1.2862/70 Oct 30 high, congestion lows Nov 1
*RES 3: $1.2836 Nov 3 high
*RES 2: $1.2799/08 Nov 2, Oct 27 lows
*RES 1: $1.2780/85 Hourly resistance
*PRICE: $1.2758 @1019GMT
*SUP 1: $1.2715 Nov 3 low
*SUP 2: $1.2679/84 1% vol band, 50% Fibo of $1.2451-$1.2917
*SUP 3: $1.2629/34 61.8% of $1.2451-$1.2917, Oct 25 low
*SUP 4: $1.2600 Oct 6 high, now support
*COMMENTARY* The end of last month saw the upside move toward the 50% Fibo
retrace level at $1.2927. A high of $1.2917 twice, before succumbing to some
overbought conditions. Has since broken below $1.2799-$1.2781 support which
opens up corrective potential of recent gains from $1.2451. A low of $1.2715 so
far, ahead of next $1.2684-$1.2679 support area. Resistance $1.2780 and then the
$1.2799-$1.2808 previous lows.
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.