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Free AccessTECHS: Neutral Outlook USDCAD based...>
DOLLAR-CANADA: TECHS: Neutral Outlook
USDCAD based ahead of trendline support yesterday, before a sharp fall in oil
prices aided the recovery back through the 200-dma. The broader risk-off theme
has seen USDCAD hold 1.32 with bulls immediate focus turning to down trendline
resistance & 100-dma at 1.3255/60. Above here brings the Feb 19 high & 38.2%
retracement level back into view at 1.3281/97. Bears need to clear the 61.8%
retracement level & trendline support at 1.3120/16 to regain the upper hand,
putting the focus back on the ytd low at 1.3069.
To read the full story
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.