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Trend Outlook Remains Bullish

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DOLLAR-CANADA
DOLLAR-CANADA: TECHS: Decline Moves Toward Top Of $1.2491-$1.2433 Support
*RES 4: $1.2662/69 Hourly recovery highs Dec 27
*RES 3: $1.2628 Dec 28 low, now resistance
*RES 2: $1.2590 Dec 29 high
*RES 1: $1.2566/70 Jan 2 high, hourly resistance
*PRICE: $1.2523 @1006GMT
*SUP 1: $1.2491/00 50% Fibo of $1.2061-$1.2921, intraday low
*SUP 2: $1.2433 Oct 12 low
*SUP 3: $1.2390 61.8% Fibo of $1.2061-$1.2921
*SUP 4: $1.2372 2% volatility band
*COMMENTARY* Having lost pivotal $1.2694 support, continued to fall at the end
of last month. Having fallen below last week's $1.2515 low, we now reach towards
what looks like decent support, currently situated between $1.2491-$1.2433. This
ahead of Fibo support at $1.2390 and then the lower 2% volatility band, a known
inhibitor of both losses and gains. In the meantime, resistance from firstly
$1.2566-70 and then $1.2590 currently inhibit any recovery potential.

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