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Recent Gains Considered Corrective


Trend Needle Points North Despite Recent Pullback


Trend Needle Points North Despite Recent Pullback


Late SOFR/Treasury Option Roundup

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TECHS: Reverses Off Recent Highs......>

DOLLAR-CANADA: TECHS: Reverses Off Recent Highs
*RES 4: 1.3383 High Sep 3
*RES 3: 1.3331 61.8% retracement of the Jun - Dec decline
*RES 2: 1.3329 High Feb 10 and key resistance
*RES 1: 1.3296 High Feb 2
*PRICE: 1.3252 @ 06:28 GMT Feb 13
*SUP 1: 1.3227 Low Feb 3
*SUP 2: 1.3191 Low Jan 30
*SUP 3: 1.3155 Low Jan 28 and 29
*SUP 4: 1.3151 Trendline support drawn off the Jan 7 low
Despite having traded higher Monday, USDCAD pulled back sharply yesterday and
appears to have established a top at Monday's 1.3329 high. This move lower
signals the onset of a correction that has scope for a move towards 1.3227 next
and 1.3191, the Feb 3 and Jan 30 lows respectively. Note that trendline support
lies at 1.3151, drawn off the Jan 7 low. On the upside, initial resistance is
seen at yesterday's high of 1.3296.

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