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TECHS: Neutral Outlook After the......>

DOLLAR-CANADA
DOLLAR-CANADA: TECHS: Neutral Outlook
After the USDCAD reversal extended to 1.3051 today, the short-term outlook
turning broadly neutral. Nonetheless, poor commodities performance saw the rate
test, but fail to break, the week's 1.3177 highs. A break below 1.3042 will be
required for bears to regain control and target the August lows of 1.2962. Key
channel resistance from the June 26 high comes in at 1.3200, a break above here
is needed to suggest a bull flag breakout is in play.
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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