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TECHS: Fibonacci Retracement Holds....>

DOLLAR-CANADA
DOLLAR-CANADA: TECHS: Fibonacci Retracement Holds For Now
*RES 4: 1.3298 High Dec 4
*RES 3: 1.3270 High Dec 6 and initial key resistance
*RES 2: 1.3240 High Dec 11
*RES 1: 1.3205 High Dec 13
*PRICE: 1.3167 @ 06:03 GMT Dec 16
*SUP 1: 1.3151 Low Dec 13 and 61.8% of the Oct 29 to Nov 20 rally
*SUP 2: 1.3109 76.4% retracement of the Oct 29 - Nov 20 rally
*SUP 3: 1.3075 Low Oct 30
*SUP 4: 1.3042 Low Oct 29 and key support
USDCAD last week retraced the entire recovery between Dec 5 and Dec 6. For now
though, the move lower is still considered corrective. The 61.8% retracement of
the Oct 29 to Nov 20 rally at 1.3151 remains a key support. While it holds (it
was tested Friday), a bullish theme remains in place and if the USD is able to
find a bid tone once again, scope would be seen for a climb towards 1.3300 and
beyond. A clear break of 1.3151 would expose a deeper setback.

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