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TECHS: Deeper Retracement Seen........>

DOLLAR-CANADA
DOLLAR-CANADA: TECHS: Deeper Retracement Seen Likely
*RES 4: 1.3383 High Sep 3
*RES 3: 1.3331 61.8% retracement of the Jun - Dec decline
*RES 2: 1.3329 High Feb 10 and key resistance
*RES 1: 1.3296 High Feb 2
*PRICE: 1.3250 @ 16:38 GMT Feb 14
*SUP 1: 1.3227 Low Feb 3
*SUP 2: 1.3191 Low Jan 30
*SUP 3: 1.3155 Low Jan 28 and 29
*SUP 4: 1.3158 Trendline support drawn off the Jan 7 low
Despite having traded higher Monday, USDCAD pulled back sharply Wednesday and
remains under pressure. The pair appears to have established a top at Monday's
1.3329 high for now. The move lower signals the onset of a correction that has
scope to extend towards 1.3227 next and 1.3191, the Feb 3 and Jan 30 lows
respectively. Note that trendline support lies at 1.3158, drawn off the Jan 7
low. Initial resistance is seen at Wednesday's high of 1.3296.

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