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TECHS: Extends Corrective Pullback....>

DOLLAR-CANADA
DOLLAR-CANADA: TECHS: Extends Corrective Pullback
A combination of firmer oil prices and a weaker dollar has seen USDCAD extended
its corrective pullback through 1.3100 to 1.3078. Bears need to challenge the
1.3000 level and a break below 1.2962/69 (Aug 7 low/100-dma) is needed to
re-establish the downtrend and target the June 6 low at 1.2859. Key channel
resistance from the June 26 high which comes in at 1.3200. A break above here is
needed to suggest a bull flag breakout is in play.

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