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DOLLAR-CANADA
DOLLAR-CANADA: TECHS: Path Of Least Resistance Still Down
*RES 4: 1.3833 High May 29 and key near-term resistance
*RES 3: 1.3715 Low May 29
*RES 2: 1.3585 High Jun 2
*RES 1: 1.3513 High Jun 5
*PRICE: 1.3406 @ 10:52 BST Jun 10
*SUP 1: 1.3357 Low Jun 8 and 76.4% retracement of the Jan - Mar rally
*SUP 2: 1.3315 Low Mar 2
*SUP 3: 1.3267 Low Feb 25
*SUP 4: 1.3188 3.0% 10-dma envelope
USDCAD remains bearish following last week's move lower. Price last week cleared
the 200-dma reinforcing a bearish condition leaving the pair exposed to further
weakness. The focus is on 1.3357, 76.4% retracement of the Jan - Mar rally. A
break would open 1.3315, Mar 2 low. On the upside, initial firm resistance is at
1.3585, Jun 2 high. A break of this level would signal the start of a
correction.

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