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TECHS: Down Trend Channel Under.......>

DOLLAR-CANADA
DOLLAR-CANADA: TECHS: Down Trend Channel Under Threat
Despite a false break above down trend channel resistance on Friday, upside
pressure. Bulls need to close above the 61.8% retracement from June highs to Oct
lows at 1.3156 to gain momentum to push the cross meaningfully higher. A move
above this level would open up a move to the Sep highs at 1.3226. Bears need to
push back below the 50-dma/38.2% retracement from June highs to Oct lows at
1.3014/13 before challenging Wednesday's low at 1.2970 and bringing the Oct 16
low/200-dma into play.

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