TECHS: Falling Back Into Range. ......>

DOLLAR-CANADA: TECHS: Falling Back Into Range. 

After failing to take out resistance at the Aug 2 high, USDCAD has fallen back

into its recent range. A hold and close above the 1.3040 level is required to

stabilise the near-term outlook and allow a more sustained recovery towards

1.3096 and the 1.3116 near term pivotal point. Gains above here would suggest a

base is forming. However, failure below 1.3040 keeps the pressure on the

downside targeting the 100-DMA and channel support around 1.2955/60, just ahead

of the long term up trendline support from January at 1.2931. A break below here

would trigger a more significant bearish signal, bringing the 200-DMA into play,

currently at 1.2819.