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TECHS: Outlook Still Bullish *RES.....>

DOLLAR-CANADA
DOLLAR-CANADA: TECHS: Outlook Still Bullish
*RES 3: 1.3328 High Nov 20 and initial key resistance
*RES 2: 1.3298 High Dec 4
*RES 1: 1.3270 High Dec 6
*PRICE: 1.3172 @ 20:38 GMT Dec 11
*SUP 1: 1.3162 Low Dec 11
*SUP 2: 1.3159/51 Low Dec 5 / 61.8% of the Oct 29 to Nov 20 rally
*SUP 3: 1.3109 76.4% retracement of the Oct 29 - Nov 20 rally
Bulls suffered a Fed-induced setback Wednesday as the pair retraced back below
the 1.3172 level, but these moves should be considered as corrective at this
stage. The 61.8% retracement of the Oct 29 to Nov 20 rally at 1.3151 remains key
support going forward. As such, there remains a bullish outlook and if the USD
is able to maintain a bid tone near-term, potential would be seen for an
extension higher towards 1.3300. To negate last week's sharp sell-off though
between Dec 3 and Dec 5, a break of 1.3328, Nov 20 high is still required.

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