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TECHS: Remains Heavy *RES 4: 1.3867...>

DOLLAR-CANADA
DOLLAR-CANADA: TECHS: Remains Heavy
*RES 4: 1.3867 Low May 19
*RES 3: 1.3833 High May 29 and key near-term resistance
*RES 2: 1.3715 Low May 29
*RES 1: 1.3585 High Jun 2
*PRICE: 1.3521 @ 10:50 BST Jun 4
*SUP 1: 1.3481 Low Jun 3
*SUP 2: 1.3462 Low Mar 9 and the 200-dma
*SUP 3: 1.3380 Low Mar 3
*SUP 4: 1.3361 76.4% retracement of the Jan - Mar rally
USDCAD sold off again Wednesday to maintain the bearish pressure. The break
lower this week resulted in a move through 61.8% of the Jan - Mar rally at
1.3611, setting the scene for a deeper decline. This has opened 1.3462 next, Mar
9 low and 1.2261 further out, the 76.4% retracement. Momentum studies are also
trending lower highlighting the risk for an extension of this bearish cycle. Key
short-term resistance is seen at 1.3833, May 29 high.

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