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DOLLAR-CANADA: TECHS: Pausing Around 1.35
Having previously breached triangle top resistance, Wednesday's dovish BoC
spiked through 1.3500 to 1.3521, its highest levels since early January. Despite
taking a breather on Thursday, USDCAD remains within touching distance of 1.35.
The 76.4% retracement level of the Dec - Jan fall comes in just above Wed's high
at 1.3524 and a close above here puts the focus back on the Dec31 high at
1.3665. To the downside, bears need to clear the 1.34 level & 100-dma at 1.3342.
A close below the 55-dma at 1.3327 would shift the outlook negative, opening the
March 19 low & triangle base at 1.3251/48.
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