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TECHS: Off Cycle Highs Firmer oil.....>

DOLLAR-CANADA
DOLLAR-CANADA: TECHS: Off Cycle Highs
Firmer oil prices eased USDCAD off its best levels of the day. Despite this, the
recent uptrend remains intact and continues to generate bullish momentum on
technical indicators. A close above the 50-dma at 1.3361 would suggest a
resumption of the uptrend with bulls targeting the Jan 7 high at 1.3391, ahead
of a run at the 1.34 level. Bears need a close below the 100-dma at 1.3203 to
regain control, targeting the Jan 9 & Dec 3 lows at 1.3180/60. Below here opens
a run at the 61.8% retracement & 200-dma at 1.3120/3113.

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