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TECHS: False Break of 1.35 While......>

DOLLAR-CANADA
DOLLAR-CANADA: TECHS: False Break of 1.35
While USDCAD breached triangle top resistance & the previously hard to overcome
1.3505 level on Friday, the weak close keeps the sideways trading range intact
and the near term outlook neutral. Bulls need a close above 1.35 to cement the
uptrend, opening a run at the Apr 24 high & 76.4% retracement of the Jan - Feb
fall at 1.3521/24. Bears look for a break back under trendline support, the May
16 low and the 55-dma which all converge around the 1.34 level.

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