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TECHS: Sharp Sell-Off Yesterday.......>

DOLLAR-CANADA
DOLLAR-CANADA: TECHS: Sharp Sell-Off Yesterday
*RES 4: 1.4265 High Apr 21 and the bull trigger
*RES 3: 1.4198 High Apr 23
*RES 2: 1.4173 High May 7 and key near-term resistance
*RES 1: 1.4141 High May 14
*PRICE: 1.3955 @ 06:18 BST May 19
*SUP 1: 1.3924 Intraday low
*SUP 2: 1.3900 Low May 11
*SUP 3: 1.3851 Low Apr 30 and bear trigger
*SUP 4: 1.3812 50.0% retracement of the rally between Jan 7 - Mar 19
USDCAD traded sharply lower Monday, following a failure to challenge resistance
at 1.4173, May 7 high. A break of this resistance is still required to fully
reinforce bullish conditions. Note, a breach would confirm a break of 38.2% of
the Mar 19 - Apr 30 sell-off, at 1.4163 reinforcing a bullish theme. This would
open 1.4265, Apr 21 high. Firm support is at 1.3900, May 11 low and 1.3851, Apr
30 low. A break of the latter would be a significant bearish development.

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