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TECHS: Insufficient Rally *RES 3:.....>

DOLLAR-CANADA
DOLLAR-CANADA: TECHS: Insufficient Rally
*RES 3: 1.3500 Round number resistance
*RES 2: 1.3465 High Feb 28 and key resistance
*RES 1: 1.3441 High Mar 2
*PRICE: 1.3421 @ 17:03 GMT Mar 4
*SUP 1: 1.3315 Low Mar 2
*SUP 2: 1.3267 Low Feb 25
*SUP 3: 1.3251 Trendline support drawn off the Jan 7 low
The BoC rate cut inspired rally failed to crack through any notable resistance
levels, leaving the broader picture unchanged. The pair continues to trade below
Friday's high of 1.3465. Whether the pullback off this high is a reversal is too
early to tell and attention shifts to support at 1.3317 which was probed briefly
Monday. A clear break would open 1.3267, Feb 25 low ahead of the key trendline
support at 1.3251. The trendline is drawn off the Jan 7 low, a breach would be
bearish. On the upside, key resistance and the bull trigger is at 1.3465.

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